Key facts
- The EU has signed its first Tripartite Agreement for Energy Storage.
- The agreement aims to triple energy storage capacity from 55 GW to 200 GW by 2030.
- An interim target of 30-35 GW is set for 2028.
- The deal brings together the European Commission, 22 member states, storage developers, manufacturers, and financial institutions.
- Without increased storage, solar and wind output will be increasingly curtailed, risking blackouts and greater dependence on fossil fuels.
The European Union has launched a significant initiative to address its energy storage capacity gap, signing its first Tripartite Agreement for Energy Storage on June 26 in Luxembourg. This pact, involving the European Commission, 22 member states, storage developers, manufacturers, and financial institutions like the European Investment Bank, aims to bolster the EU's energy system.
Europe currently possesses approximately 55 gigawatts (GW) of storage capacity. The ambitious goal is to more than triple this to 200 GW by 2030, with an intermediate target of 30 to 35 GW set for 2028. This expansion is crucial for managing the increasing integration of renewable energy sources, as the share of storage in meeting peak power demand is projected to double from 5 percent to 10 percent.
The European Commission has emphasized that energy storage is now indispensable for the EU's energy infrastructure. Without sufficient storage, the intermittent nature of solar and wind power means that output will increasingly be curtailed due to grid limitations. This not only leads to wasted renewable energy but also heightens the risk of blackouts and increases dependence on imported fossil fuels.
Several countries have already established their own national storage targets, including Poland (11,000 MW), Spain (up to 5,000 MW), Austria (5,000 MW), and Bulgaria (phased through 2028). Germany and other member states are expected to submit their specific targets by the end of the year.
Despite the agreement, challenges persist. The pact is non-binding, and issues such as double-charging by storage operators, lengthy permitting processes, and grid-connection bottlenecks need to be overcome. The European Commission plans to review the progress made annually until 2028.