Spain’s storage deployments hit 495 MWh in 2023

According to data from Spanish solar energy association UNEF, around 495 MWh of behind-the-meter storage capacity was installed in Spain in 2023, with residential installations accounting for around three-quarters of the total.

With these new additions, the country reached 1.823 MWh of cumulative storage capacity at the end of December

These figures, according to UNEF, show that the storage business is gaining traction in the Spanish renewable energy market.

“At UNEF we consider it essential to continue working hand in hand with companies and public institutions to draw up an adequate strategy that will allow us the definitive boost that behind-the-meter storage needs,” said José Donoso, general director of UNEF. “We have to continue working on the creation of schemes of financing that allow this type of facilities to be made more competitive, such as VAT exemption or tax deductions.”

Donoso added that in the coming years, batteries could have the same importance as solar panels themselves.

UNEF said that the bankability of battery storage projects has been affected by a significant decline in electricity prices on the Spanish spot market, which also slowed down the distributed-generation solar business across the country.

“Batteries are usually installed with rooftop PV systems,” the association said.

Spain’s cumulative installed PV capacity reached 25.54 GW at the end of December 2023. Last year, the nation deployed 5.59 GW of new solar power.