Europe must scale long duration energy storage to cut costs and meet climate goals
Source：Energy Live News
Europe must urgently incentivise long duration energy storage (LDES) to cut grid costs, boost energy independence and meet its 2050 climate commitments.
A new whitepaper from storage company Hydrostor, argues that greater revenue certainty for storage projects would reduce curtailment, avoid stranded gas assets and lower overall system expenses.
The report highlights that strategic deployment of LDES could save EU member states €103 billion by 2040, based on recent findings from the Energy Storage Europe Association.
The UK alone could save €35 billion by 2050, according to modelling by LCP Delta for the UK government.
Jon Norman, President of Hydrostor, said: “As global momentum grows behind long-duration energy storage, Europe risks being left behind. States must act now to deliver projects in time to fulfill their international commitments and ambitions.”
He warned that inaction could jeopardise opportunities to save billions while slowing progress on climate and energy security goals.
The paper, From Ambition to Action: Embedding Long Duration Storage in European Energy Strategy, sets out three policy priorities.
It calls on governments to conduct system modelling that fully accounts for the lifetime costs and performance of all storage technologies.
It also recommends setting clear procurement targets supported by multi-year schedules to reduce risks linked to supply disruption and rising curtailment.
Finally, Hydrostor urges policymakers to reform markets so they value LDES appropriately and support revenue certainty through mechanisms such as cap-and-floor contracts.
Europe must more than double its storage capacity by 2030 to stay on track for its energy transition.
With the continent importing 58% of its energy, failure to support longer duration storage could leave flexibility gaps filled by new gas infrastructure, increasing vulnerability to price shocks and future stranded assets.