Energy industry experts expect rapid growth in Germany’s battery storage demand

The demand for electricity storage solutions will increase substantially in Germany in the next decade, with battery and heat storages expected to grow the fastest, according to a survey conducted by the Centre for European Economic Research (ZEW) among energy industry experts. Over 70 percent of survey participants said they believe batteries will be the quickest growing segment in the next ten years, while heat storages ranked second with 47 percent in the survey that allowed for choosing more than one answer. Other technologies, such as pumped hydro or compressed air storages, are expected to grow much slower, the ZEW survey reveals. According to the experts, the price and the reaction time of storages are decisive for investors, while the current political framework does little to promote the use of energy storages, the ZEW says.

Find the press release in German here.