Wood Mackenzie: Europe Loses Global Energy Storage Battle

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Policy makers are underestimating the flexibility challenge ahead, says Wood Mackenzie.

Official Press Release Wood Mackenzie:

Europe losing global energy storage battle as US and China race ahead

Wind Industry Profile of
Europe losing global energy storage battle as US and China race ahead

Europe is set to lose the global energy storage race unless government auctions begin to incentivise flexible power, according to research from Wood Mackenzie.

“Europe’s energy storage outlook is beginning to pale in comparison to its global counterparts. As deployments are ramping up in major markets, particularly the US and China, it is almost impossible to perceive similar developments in Europe. “However, despite this, Europe will continue to possess proportionally more variable renewable energy (VRE; wind and solar) than any other region on the planet. While delivering low-cost, low-carbon power in abundance, the non-dispatchable nature of VRE presents a flexibility challenge for power systems. Particularly over the 2020 coronavirus lockdown... ... More: Official Press Release Wood Mackenzie

Wood Mackenzie, battle, Europe, loser, energy storage, global, auction, government, felxible, power, race, USA, China, price, costs, wind, solar

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