Europe’s battery energy storage market grew by 15% in 2024, reaching 21.9 GWh of newly installed capacity, according to the European Market Outlook for Battery Storage 2025–2029 by SolarPower Europe. This marked the 11th consecutive year of record installations, bringing the continent’s total BESS capacity to 61.1 GWh.
However, the 15% year-over-year (YoY) growth rate represents a notable slowdown from the previous three years, during which the market doubled its annual additions consistently.
Key Insights from the Report
2024 installations: 21.9 GWh (+15% YoY)
Total capacity (as of end-2024): 61.1 GWh
Forecast for 2025: 29.7 GWh (+36% YoY)
Long-term projection: Six-fold growth by 2029, with total capacity expected to reach 400 GWh, including ~120 GWh of installed capacity in that year alone.
Despite the temporary deceleration, SolarPower Europe anticipates accelerated growth in 2025 and 2026, though it warns that deployment levels remain insufficient to meet Europe’s decarbonization and energy security targets.
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