As Europe moves towards carbon neutrality, more renewables must be introduced into the energy system. However, due to their variable nature, long-duration energy storage solutions are needed to guarantee energy availability and grid stability.
The letter urges European legislators to recognise the value of long-duration energy storage for the energy transition and, therefore:
Establish a more favourable legal framework for the large-scale deployment of energy storage solutions across all EU Member States, for instance by considering energy storage as a separate asset class, alongside generation, distribution & transmission, and consumption, or ensuring that no double taxation or grid costs apply to energy stored.
Increase funding opportunities for long-term storage solutions at all stages, endorsing such projects as an important green investment opportunity.
The ambitious carbon neutrality goal is set for 2050, there is no time to lose. Decisive action must therefore be taken to ensure a more favourable environment and incentives for energy storage deployment.
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