Batteries for Europe's Grids May Finally Be Ready to Take Off [Financial Post (Toronto, Ontario, Canada)]
RWE AG ORD S/ADR (RWEOY)
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Source: Financial Post
Author of the article: (Bloomberg) — Europe is on the brink of an enormous surge in battery projects for the grid after a half-decade of stumbling without a clear strategy. There could be a sevenfold increase to more than 50 gigawatts in capacity connected to transmission networks by 2030, according to Aurora Energy Research Ltd. The UK, Italy and Ireland are the top three markets for storage investment within the region, with Spain and Greece emerging. Article content Article content “Grid-scale battery building was already picking up in 2023 and is now increasing its speed,” said Ryan Alexander, lead researcher for European power markets at Aurora, which released its report Tuesday. As Europe rapidly expands its use of renewable energy to meet climate goals, batteries play a crucial role in the power market because they can store electricity when it's plentiful and discharge when it's scarce. Progress has been slow because many network operators don't procure services b
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