L R AS Published on Sunday 17 September 2023 - n° 457 - Categories:lithium batteries

Increased demand for storage in Germany, Italy and the United States

Three key factors are driving the rapid growth in global demand for energy storage: the electricity market, political support and economic viability.

Energy storage in the US, Europe and other regions has the potential to generate significant energy trade and revenues.

These storage facilities are being facilitated by the falling cost of systems, mainly those using lithium batteries, and by subsidies offered by certain local policies.

In Germany :

In August 2023, installed capacity reached an impressive 206 MW/309 MWh, which, according to ISEA data, represents a substantial 49% increase on the same period last year. However, it is important to note that there was a monthly drop of 21% between July and August.

Monthly installed domestic storage capacity in Germany (MW/MWh):

In August 2023, the price of residential electricity in Germany was 38.47 euro cents/kWh. This represents a year-on-year decrease of 0.3%.

In Italy :

In the first quarter of 2023, domestic storage reached 741 MW/1,089 MWh, covering 80,200 systems. This represents an astonishing year-on-year increase of 479% and 296%. What's more, from one quarter to the next, there was a significant increase in installed capacity of 40%, then 26%.

In the United States :

155.4 MW/388.2 MWh of domestic storage were installed in the first quarter

https://www.energytrend.com/research/20230915-37667.html

EnergyTrend of 15 September 2023

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