Image: LCP Delta
Europe has seen its first year when energy storage deployments by power capacity exceeded 10GW in 2023.
The eighth annual edition of the European Market Monitor on Energy Storage (EMMES) was published last week by consultancy LCP Delta and the European Association for Storage of Energy (EASE).
It found that total installations in Europe – including European Union (EU) and non-EU countries – across the residential, utility-scale, and commercial and industrial (C&I) market segments throughout last year added up to around 10.1GW.
That was more than double the 4.5GW recorded across Europe for 2022, and way above the 6GW forecast for 2023 by LCP Delta in last year’s EMMES 7.0 report published around this time last year.
The “impressive results” were driven by a combination of support schemes and improving market conditions for storage, LCP Delta said.
One key takeaway, which we wrote about in the most recent ESN Premium Friday Briefing, was the split between front-of-the-meter (FTM, utility-scale) and behind-the-meter (BTM, residential and C&I). There were around 2.7GW of FTM installations completed in 2023, versus around 7.3GW of BTM systems installed.