Please wait... Disclaimer: The European Energy Inventory Storage dataset is mainly based on public data and data from Wood Mackenzie. Wood Mackenzie Limited, subject to any additional data modifications and/or input provided by the EC or any of its authorised 3rd party contributor.
Pumped hydro is the most widely used technology for energy storage in Europe and worldwide, but batteries and hydrogen have come into the spotlight over the last decade as a recent trend in the energy storage market.
However, despite an exponential growth in Europe’s battery energy storage capacity, which reached 36 gigawatt-hours in 2023, pumped hydro still accounted for 90 percent of the electricity storage capacity in the European Union that year.
Compared to classic renewables, energy storage has really only become an investable asset in Europe over the last few years on the back of technology advances, market price signals, and government support mechanisms.
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