Aurora Energy Research has released the latest edition of its European Battery Markets Attractiveness Report (BatMAR), ranking Italy, Great Britain, and Germany as the most attractive markets for BESS investment.
The report, covering 28 European countries, also examines market trends and regulatory changes.
Italy tops the ranking, supported by its 50 GWh battery capacity target for 2030 and the opening of ancillary markets to BESS.
The UK follows, with a strong installed capacity of 4.3 GW, projected to more than double to 10.6 GW, and attractive revenue opportunities.
Germany ranks third, overtaking Ireland’s I-SEM, due to its strong market outlook and ambitious renewable energy goals.
Other markets
Beyond these leading markets, Belgium, Hungary, and Greece are emerging as key opportunities, particularly for smaller investors or those with a higher risk appetite, according to Aurora Energy Research.
Europe’s grid-scale BESS capacity, which stood at 10.3 GW as of October 2024, is forecast to grow fivefold to 55 GW by 2030 and reach 126 GW by 2050. These additions represent a €100 billion investment opportunity through 2050, including repowering projects.
“The grid-scale energy storage market continues to be strong, with investment pipelines growing due to promising opportunities,” said Eva Zimmermann, Senior Associate Flexible Energy, Pan European Power Markets at Aurora Energy Research.
However, she noted that market entry varies, as Italy presents greenfield opportunities while Great Britain’s pipeline is already well-developed.
Jörn Richstein, Research Lead at Aurora Energy Research, discussed the importance of flexibility in the energy transition, noting that evolving revenue opportunities make the market complex and require a deep understanding of local power developments.
