How much does battery storage cost in Europe?

The landscape of utility-scale battery storage costs in Europe continues to evolve rapidly, driven by technological advancements and increasing demand for renewable energy integration. As we’ve explored, the current costs range from €250 to €400 per kWh, with a clear downward trajectory expected in the coming years.

Why do we need batteries in Europe?

Wind and solar use has grown to make up around a third of Europe's energy mix, but because these renewable sources are intermittent, they have also driven demand for batteries to provide backup. The Reuters Power Up newsletter provides everything you need to know about the global energy industry. Sign up here.

Will the EU meet its future battery needs?

Projections around battery manufacturing in the EU remain highly uncertain. Many reports claim that the EU is on track to meet its future battery needs, yet also highlight significant risks that could prevent this from happening.

Why is battery production important for the EU?

Batteries, widely used in the transport and energy sectors, are central to the global energy system. They will be key to the EU's clean energy transition, industrial future and strategic autonomy. Boosting the industrial base for battery production is therefore a key task for the EU.

Will Europe's battery storage capacity grow five-fold by 2030?

REUTERS/Fabian Bimmer/File Photo Purchase Licensing Rights LONDON, Feb 6 (Reuters) - Europe’s battery storage capacity is expected to grow around five-fold by 2030, bringing with it increasing returns for energy majors, project developers and traders, as the cost of new projects falls.

Are end-of-life lithium-ion batteries classified differently across member states?

The report also pointed out that end-of-life lithium-ion batteries and intermediates of recycling, such as battery production waste and black mass, might be classified differently across Member States in the absence of EU rules on their classification as hazardous or non-hazardous waste.