Spain Reaches 1,823MWh Cumulative Energy Storage Capacity by December 2023

Post time: 2024-08-13

The latest statistics from Spain's Unión Nacional de Energía Fotovoltaica, UNEF, indicate that deployment in user-side energy storage systems reached circa 495MWh in 2023. Approximately three-quarters of the cumulated storage capacity came from residential storage systems.

Spain Reaches 1,823MWh Cumulative Energy Storage Capacity by December 2023

This would mean that at the close of December 2023, Spain's cumulative installed energy storage capacity stood at 1,823MWh, representing a huge growth to underscore the strong appeal of the energy storage business in the country's renewable energy market. This upwards movement reflects Spain's ever-great commitment to energy transition and climate change mitigation and continuous investment and innovation in renewable energy and storage technologies. Backed by the Spanish government's support policies for renewable energy and storage technologies, this market is likely to carry the growth momentum in the foreseeable future.

José Donoso, General Director of UNEF, commented, "We think that we should keep working with companies and public administrations to design an adequate policy that will, in the end, bring more demand for energy storage from users. That requires keeping up the pace in the financing schemes to make energy storage systems more competitive, like the exemption of VAT or fiscal reductions.

Donoso concluded that the battery storage systems could soon be as relevant as the solar power generation systems in the coming years.

UNEF said that the financiability of the projects of battery storage have been affected by the sharp fall of the price of electricity in Spain. That factor has also delayed the development of distributed generation throughout the country. "Battery storage systems are usually implemented linked to rooftop photovoltaic systems," the association commented.

Meanwhile, Spain reached an accumulated 25.54 GW of installed solar power generation facilities as of the end of December 2023, after installing an additional capacity of 5.59 GW last year.