According to recent data released by the Unión Nacional de Energía Fotovoltaica (UNEF), Spain deployed approximately 495MWh of user-side energy storage systems in 2023, with residential storage systems accounting for roughly three-quarters of the total storage capacity.
By the end of December 2023, Spain's cumulative installed energy storage capacity reached 1,823MWh, marking a significant growth that underscores the strong appeal of the energy storage business within the country's renewable energy market. This upward trend reflects Spain's unwavering commitment to energy transition and climate change mitigation, as well as its continuous investment and innovation in renewable energy and storage technologies. With the Spanish government's ongoing promotion of renewable energy and storage technologies, this market is projected to maintain its robust growth momentum.
José Donoso, General Director of UNEF, stated, "We believe it is essential to continue collaborating with businesses and public institutions to devise an appropriate strategy that ultimately enhances user demand for energy storage. We must persist in developing financing schemes that make energy storage systems more competitive, such as VAT exemptions or tax reductions."
Donoso added that battery storage systems may become equally crucial as solar power generation systems in the coming years.
UNEF noted that the financiability of battery storage projects has been impacted by the substantial decline in electricity prices in Spain, which has also slowed the development of distributed generation across the country. "Battery storage systems are typically deployed in conjunction with rooftop photovoltaic systems," the association explained.
As of December 2023, Spain had accumulated 25.54GW of solar power generation facilities, with an additional 5.59GW of installed capacity added last year.
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