Europe is set for a boom in battery storage installations with grid-scale capacity expected to jump sevenfold by the end of this decade and represent $84 billion in total investment opportunities through 2050
The project, one of the largest in continental Europe, will increase flexibility in the power system and support lower electricity prices for end-users. The energy storage system will have enough capacity to power approximately 60,000 German households for a 2-hour period.The demand for energy storage in Germany is predicted to reach 23.7GW by 2037, and storage is expected to generate €12 billion in macro-economic value by 2050. ERLANGEN, Germany, Feb. 14, 2024 (GLOBE NEWSWIRE) MW Storage AG
Electrification will be the endgame of China’s decades-long energy transition, with a major new outlook released at COP28 in Dubai predicting power demand to more than double by 2060 as Beijing electrifies swathes of the Chinese economy. [Gas in Transition, Volume 3, Issue 12]