European PV Energy Storage Suppliers: Leaders Shaping a
BYD: The Chinese titan captured 30% of Europe''s residential storage market in early 2024, with its Batterybox series dominating sales. They deployed 5 GWh of systems in just six
In 2024, Europe¹ installed 21.9 GWh of battery energy storage systems (BESS), marking the eleventh year of record-breaking annual additions since 2013, when our records began. The latest additions take the total running European battery fleet to 61.1 GWh at the end of 2024.
In 2024, Europe's top three battery storage markets – Germany, Italy, UK – solidified their dominance, with Austria and Sweden closing the 'top 5' ranking (see Fig. 2). 2024 marked the first year when reaching the GWh scale of annual installations was required to access the top 5.
Switzerland, as a power transit country with strong grid connectivity, has limited demand for grid-scale battery storage despite having close to 4 GW of pumped storage capacity. The Belgian energy storage market is expected to grow from 491 MW in 2023 to 3.6 GW in 2030, and pre-table energy storage will grow rapidly.
By September 2023, Germany has installed more than 1 million residential energy storage systems and expects to add more than 400,000 units per year in the future. Volatile energy prices and the popularity of photovoltaic self-use have driven demand for residential energy storage, which is expected to continue to grow through 2030.
BYD: The Chinese titan captured 30% of Europe''s residential storage market in early 2024, with its Batterybox series dominating sales. They deployed 5 GWh of systems in just six
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The Platform is working to accelerate the implementation of existing legislation and complement it with a dedicated Energy Storage Action Plan and Flexibility Package to unleash the
Note: Required spread for a two-hour battery project assuming revenues cover project costs of €360,000/MWh in 2024, for previous years assumes BNEF''s Europe energy storage system
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