The EU aims to scale storage capacity to 200 GW by 2030, up from 55 GW today, with batteries playing an important role under AccelerateEU
The plan focuses on faster permitting, stronger grids, and electrification to speed up the energy transition
It will mobilize private investment, supported by the European Investment Bank
European Commission says the focus of its AccelerateEU initiative will be on homegrown and clean energies to replace oil, gas, and fossil transport fuels. This is aimed at bringing ‘immediate’ relief for European households and industries that are bearing the brunt of the region’s dependence on imported fossil fuels.
It envisages 200 GW of storage capacity by 2030, up from 55 GW at present, with batteries playing an important role.
Presented as a ‘toolbox’, AccelerateEU comprises ‘targeted temporary measures’ to address the spike in prices of imported fossil fuels arising from the Middle East crisis.
“Our AccelerateEU strategy will bring both immediate and more structural relief measures to European citizens and businesses,” said European Commission President Ursula von der Leyen. “We must accelerate the shift to homegrown, clean energies. This will give us energy independence and security, and mean we are better able to weather geopolitical storms.”
Among these measures is accelerating the shift to clean energy, to be followed by an Electrification Action Plan that will propose measures to remove barriers to electrification of the EU’s industrial, transport, and building sectors.
Under the Clean Industrial Deal, the bloc’s target is to deploy 100 GW DC/85 GW AC renewable electricity per year across the EU. “To deliver at pace, it is therefore critical to streamline national permitting regimes in line with the requirements set in EU legislation,” reads the AccelerateEU communication. Since 2021, the bloc has installed around 260 GW of renewable energy capacity, including 204 GW of solar PV and 57 GW of wind energy.
The AccelerateEU plan also aims to ensure stronger, fit-for-purpose power grids to back electrification. This includes implementing existing rules and finalizing the European Grids Package. Increasing output from existing renewable assets will quickly provide additional relief. The Commission also plans new rules to ensure electricity is taxed less than fossil fuels.
While the €219 billion Recovery and Resilience Facility (RRF) has funds available, the commission says it will not be enough to meet the €660 billion/year until 2030 required for the energy transition. It then aims to attract more private investment, including through the Clean Energy Investment Strategy under which the European Investment Bank (EIB) will deliver over €75 billion in financing over the next 3 years (see EIB Backs Solar & Storage Projects In Italy & Ireland).
However, the EU’s solar PV industry lobby association, SolarPower Europe (SPE), laments that there are no concrete measures to reach the envisaged 200 GW of storage capacity, even though it sends an important signal.
“AccelerateEU set the direction under crisis conditions. Delivering on the energy transition now means pairing ambition with financing tools that make it future-proof,” said SolarPower Europe’s Deputy CEO, Dries Acke.
