How will Spain increase its energy storage capacity?
Spain has launched an ambitious €700 million (around $796 million) program to increase its energy storage capacity. This plan will add 2.5 to 3.5 gigawatts (GW) of storage. It includes pumped hydro, thermal energy storage, and battery systems.
Why should Spain invest in energy storage?
Investing in energy storage helps Spain meet its climate goals. This includes achieving carbon neutrality by . Storing renewable energy instead of wasting it helps the country rely less on fossil fuels. This also cuts down greenhouse gas emissions. Pumped hydro, thermal storage, and battery systems are effective technologies.
How much does a LCoH cost in Spain?
This is comparable with the 67 €/MWh LCOH for the TES with retail charges. In Spain, subsidies for storage will be granted through four calls under the PERTE ERHA1 scheme. The PERTE ERHA includes storage, renewables and hydrogen and it is funded by the European Union
When will energy storage become a reality?
Separately, the target for energy storage deployment will more than between and , with 9.2GW expected in and nearly 19GW in . An ambitious target for the country where energy storage has yet to soar— due to a lack of regulation for the technology —at a similar level to solar PV.
What does the energy storage package mean for the energy industry?
To promote the development of energy storage, the package proposes to speed up permits for projects, exempting them from the environmental assessment procedure if the facility is within the perimeter of a renewable plant that already has a positive environmental assessment. This is something the industry has been requesting for some time.
Why is energy storage important?
Energy storage plays a key role in balancing electricity supply and demand. When the sun shines or the wind blows strongly, renewable sources can generate more electricity than the grid needs. Storage systems capture this excess energy, holding it until it’s needed—such as during cloudy periods or at night.
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Discussion & Message Board
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