Southern Europe solar container communication station Wind Power Maintenance Energy Storage

Are solar and storage delivering European energy security and competitiveness?

The new reports underline the potential of solar and storage delivering European energy security and competitiveness. ‘Embracing the benefits of Hybrid PV systems’ – which includes solar hybrid projects with storage, wind, or both – estimates that hybrid projects have a 10% lower Levelised Cost of Electricity compared to standalone projects.

How does solar and wind contribute to the vesg?

The complementary effects of solar, wind and hydropower enhance the VESG even further, which in principle makes it possible to keep the energy storage demand well below the storage capacity of existing hydropower reservoirs (section “Virtual energy storage gain for PV solar, wind and hydropower over Europe”).

Are renewable co-location projects coming to Europe?

However, the market for renewable co-location projects in Europe is still in its early stages. According to Aurora Energy Research, solar and wind farms with a combined capacity of nearly 1.2 gigawatts (GW) were operating in Europe in 2023 alongside large-scale battery storage.

Who is Solarpower Europe?

Walburga Hemetsberger, CEO of SolarPower Europe (she/her) said: “SolarPower Europe has represented the full European solar value chain for 40 years. From 50 MW of solar globally in 1985, to 350 GW alone in the EU last year, we are so proud to be powering the equivalent of 75 million EU households today.