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Aurora’s central outlook projects that Battery Energy Storage System (BESS) installed capacity in European countries will grow sevenfold by 2030 since it is crucial to complement variable renewable generation and provide grid services, maintaining security of supply. This rapid expansion represents a cumulative investment opportunity of 33.4 bn € through to 2030.
However, the landscape for investors becomes increasingly complex when choosing the right markets, locations, and technologies to invest in.
Italy and Iberia are prime examples of developing markets that are making significant strides toward adopting BESS at a large scale. In Italy, Terna estimates that its proposed auction scheme for the procurement of energy storage (MACSE) will increase storage capacity to 71 GWh by 2030. Meanwhile, in Iberia, standalone projects can now benefit from participating in the Technical Restrictions service, used by Iberian TSOs to resolve grid constraints by modifying energy programmes to ensure they are technically feasible. However, the service is highly dependent on the location of the asset, as well as ongoing revision of operating procedures regulating this additional revenue.
Conversely, the battery market in GB is relatively mature, with focus now shifting to getting ahead of the rest of the pipeline. In the ongoing REMA consultation, DESNZ has expressed support for zonal pricing, which would provide locational price signals to generation and demand by splitting GB into several price zones. Additionally, there is uncertainty surrounding the timeliness of grid infrastructure buildout and its implications for balancing revenues.
Given these scenarios, the Aurora Battery Conference 2024 illuminated strategies for navigating risks such as grid congestion and identified the most promising markets for BESS projects and how to maximise value within each market.
Having grown into one of Europe’s largest events for battery storage and other flexible energy technologies, the Aurora Battery Conference blended our original analysis with insights from leading figures in industry, finance, and policy. The event offered ample networking opportunities throughout the day, culminating in a drinks reception in the evening.
