EU Locks In Plan To Triple Energy Storage Capacity By 2030
Europe desperately needs an energy storage revolution. As the region gets rocked by the third energy crisis in four years, the continent’s insufficient indigenous energy systems, and backups to those systems, has become abundantly and painfully clear. "We swore we’d learn. We promised things would change but here we are," a ‘highly frustrated European diplomat’ was recently (anonymously) quoted…
The European Union is moving forward with plans to triple its energy storage capacity by 2030 in response to the ongoing energy crisis and the need for increased energy security. Energy ministers have signed a historic agreement to add approximately 30-35 gigawatt-hours of new capacity by 2028, as the current installed storage capacity stands at just 55 gigawatts.
Lithium-ion batteries dominate the global energy storage sector, but they have limitations, such as only being able to hold energy for a maximum of four hours. To address this, Ore Energy, a Netherlands-based company, has secured a significant deal to deploy 1 gigawatt-hour of energy storage using an iron-air battery technology.
This new technology is capable of storing energy for up to four days, unlike short-duration batteries. The modular 40-foot containers can be interconnected to boost capacity as needed, making it an ideal solution for balancing energy supply and demand in Europe's long-term energy storage solutions. If successfully scaled, this technology could provide much-needed resilience and autonomy to the European energy sector, reducing dependency on fossil fuels and external energy imports.
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