Energy storage could save Germany €3 billion in renewables subsidies by 2037
A report from consultancy Global Experts Energy Consulting (GEEC) for German developer and system integrator Eco Stor suggests that energy storage could save Germany €3bn ($3.3bn) in subsidies for renewable energy assets by 2037. The report argues that the nearly 50 GW of battery storage that could be online by 2037 will increase the wholesale market revenues for wind and solar assets and thereby reduce the amount of subsidies paid to those assets out of general taxation through the Renewable Energy Sources Act (EEG) scheme. By increasing demand during settling periods in wholesale electricity market trading, energy storage will increase the prices that renewable energy assets like wind and solar receive for their power, reducing the gap between that price and the EEG minimum price.
Date: November 22, 2023