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Munich & Pforzheim, Germany, June 4, 2024–(Business Wire)–Battery storage is experiencing rapid growth. According to a study by Frontier Economics, the capacity of grid-connected storage in Germany alone could increase to 60 gigawatts (GW) or 271 gigawatt-hours (GWh) by 2050. This is 40 times the current storage capacity. Similar dynamics of cost reduction and installation speed as seen with photovoltaics (PV) in recent years are expected. Soon, battery storage will fundamentally change energy supply. The latest technologies, trends and market developments will be presented at ees Europe, Europe’s largest and most international exhibition for batteries and energy storage systems. It will take place in Munich from June 19 to 21 as part of The smarter E Europe, Europe’s largest exhibition alliance for the energy industry. Around 3,000 exhibitors and more than 115,000 visitors from around the world are expected to visit the 19 exhibition halls and outdoor areas.
The expansion of grid-connected storage brings enormous advantages to the energy system and delivers economic benefits. The expansion of large-scale storage will significantly reduce the need for investments in new gas power plants in Germany by up to 9 GW. This expansion will also make a significant contribution to reducing CO2 emissions. Importantly, this growth is entirely market-driven and does not rely on government subsidies.
Short-term storage enables system transformation
Battery storage plays an increasingly important role in ensuring a reliable power supply and stabilizing the power grid. Large-scale battery storage systems ensure voltage control, provide instant reserve capacity, facilitate black start capabilities and play a part in congestion management. They can adjust for grid fluctuations within seconds and store energy for hours or days. The black start capability of storage systems is crucial in emergency situations.
Moreover, battery storage systems can mitigate the impact of grid expansion delays by optimizing the use of limited grid infrastructure and allowing more facilities to be connected. This allows for increased capacity and the installation of additional PV installations despite limited grid connection capacity. Another benefit is that battery storage increases the market value of renewable energy. Green electricity can be stored when market prices are low and then supplied to the grid when demand is high and electricity prices are correspondingly higher.
The International Storage Revolution
Across the world, rapid growth in battery storage is evident. Experts predict that global capacity will rise to 500 GWh per year by 2025. In markets such as Australia, the US and India, tenders for new wind or solar capacity have been linked to storage for years. In Germany, the rate of expansion and installed storage capacity are still modest. But this year German battery storage systems will surpass pumped storage systems in installed capacity for the first time.
Setting up the right framework
Favourable market conditions and simple regulation are needed to make stationary energy storage systems of all scales attractive. Market-led expansion needs to be continuously enabled and improved. Modern framework conditions for energy storage systems need to be set through grid tariff reforms, flexible electricity tariffs and the introduction of contracts for difference.
ees Europe
Every year ees Europe, Europe’s largest and most international exhibition for batteries and energy storage systems, operates under the motto “Innovating in energy storage” and provides networking opportunities for key industry players. It focuses on the latest technologies, trends and market developments. ees Europe will take place from 19 to 21 June 2024 as part of The smarter E Europe at Messe München.
For more information, please visit www.ees-europe.com.
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