Aurora increases its European battery capacity 2050 forecasts by 30%

Aurora Energy Research increased its forecast of 2050 battery storage in Europe by nearly 30%, to 128 gigawatts. It highlighted Italy as the most appealing market for investors.

The demand for battery storage is driven by the desire to counter the intermittent nature that wind and solar have taken on, which now makes up about a third or more of Europe's total energy mix.

As countries strive to reduce emissions and achieve climate targets, the share of renewable energy is expected to increase.

Aurora's fourth European Battery Markets Attractiveness report said Europe's grid-scale battery storage capacity will grow fivefold by 2030 to 55 GW and reach 126GW by 2050.

The report from last year predicted that 51 GW would be available by 2030, and 98 by 2050.

Eva Zimmermann Senior Associate Flexible Energy, Aurora Energy Research, said: "We're seeing a stronger renewable build-out but also lower prices for battery cell, which means that more build-out is possible."

In an interview she said, "There are also smaller markets in Europe that we expect to grow more," citing countries like Belgium, Greece and Ireland.

Aurora has announced that 10.3 GW will be installed in Europe before the end of 2024.

The report identified Britain as the most attractive market based on factors like policy support, participation in electricity markets, and potential size.

(source: Reuters)