Energy storage key to energy security and price stability, European Commission says

Energy storage is a fundamental building block for the EU’s energy resilience and security, as well as for stable energy prices. This was stated by Energy Commissioner Dan Jørgensen. Its development also enables greater integration of renewable energy sources (RES) into the grid.

Achieving significant growth in energy storage capacity across the EU is one of the main goals Dan Jørgensen has set for his term as Energy Commissioner, which runs from 2024 to 2029. According to the Commission, the EU will need more than 200 GW of installed capacity by 2030 and as much as 600 GW by 2050, compared with the current 89 GW.

It should be noted that several types of energy storage exist. From an electricity-system perspective, these currently primarily include pumped-storage hydropower plants and battery storage. Over a longer time horizon, the conversion of electricity into gaseous fuels and then back into electricity—particularly hydrogen—could also become more significant. The EU currently has approximately 53 GW installed in pumped-storage hydropower plants and 25 GW in battery storage, according to Montel.