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| 1 minute read

UK ranked in the the top 3 BESS markets

The UK has been ranked the 3rd most attractive BESS market in the world by the EY Renewable Energy Country Attractiveness Index (RECAI), with only China and the USA (no shocks there) ahead of it. Australia, Germany, and Italy make up the top 6. 

There's no surprise to see these particular European nations amongst the frontrunners. I spend each day speaking with Energy Storage industry leaders and there's a consistent level of interest in companies looking to expand into UK, Germany, and Italy right now, in Grid/Utility scale and C&I in particular. 

Despite the UK seeing BESS revenues drop over the last 18 months, the project pipeline has continued to soar (67% increase from 2023) and deployed capacity is predicted to reach 24GW by the end of the decade. 

Upgrades to the ESO Open Balancing Platform helping bulk dispatch, grid infrastructure upgrades, and new planning and grid connections laws are all contributing factors to the attractiveness rating. However the continued improvements made to market design are most significant, allowing BESS investors and operators to boost ROI via new revenue stacking opportunities.

We're already seeing market reforms in Germany and Italy also, so you can expect significant pipeline growth in these countries too!

Hyperion Executive Search has been supporting clients in Energy Storage for the past decade, in multiple countries across Europe and North America. We are helping businesses recruit the best leadership and strategic commercial, execution, and engineering talent in the market. If you have aspirations to scale your team then get in touch at david.beeston@hyperionsearch.com

BESS has been classed as a generation asset in a new energy bill, easing rules around construction and offering specific tariff structures. The UK’s sophisticated energy market design includes a well-established and diverse revenue stack for BESS, and the UK government is committing £20 billion to establishing a world-leading battery industry by 2030.

Tags

batteries, energy storage, grid, cleantech