European Energy Storage Market Monitor Report: Maintain growth over the next decade

In 2023, Europe's installed energy storage capacity will exceed 10GW for the first time.

LCP Delta and the European Energy Storage Association released the eighth European Energy Storage Market Monitor last week. The report shows that throughout last year, Europe (including EU and non-EU countries) installed a total of approximately 10.1GW in household, large-scale ground projects and industrial and commercial markets.

This is more than double the European record of 4.5GW in 2022, and is far higher than LCP Delta’s expectation of 6GW in 2023 in the seventh "European Energy Storage Market Monitor Report" released this time last year. LCP Delta said the “impressive results” were driven by a combination of support programs and improving energy storage market conditions.

We mentioned in the recent ESN Premium Friday Briefing that one of the important conclusions is the gap between the grid side (large ground projects) and the user side (residential and industrial and commercial projects). The grid-side installed capacity completed in 2023 will be approximately 2.7GW, and the user-side installed capacity will be approximately 7.3GW.