WG3 will explore the characteristics and uses of the different energy storage options, to ensure that present and future facilities are up–to-date and suitable for both traditional energy sources and renewable ones. WG3 will assess how to use energy storage to ensure energy security, support the increased share of renewable energy in the system and the achievement of the EU’s 2030’s climate and energy targets and the goal of climate neutrality by 2050. WG3 participants will also have the opportunity to discuss the benefits and drawbacks of existing financing schemes, barriers to investment as well as the needs for new types of instruments going forward that can more effectively address the risks faced by companies and investors.
Participants will reflect on how to finance and update new, advanced and technological storage facilities, hydrogen storage facilities, and how new battery technologies can support energy security and decarbonisation of the energy sector in the EU.
Key context and elements for discussion
The discussions in this Working Group will, amongst others, take into account the following elements:
EU Policy developments – implications for investment
- REPowerEU actions on the development of hydrogen storage facilities
- Implication of the Proposal on Batteries Regulation
- Implication of the Revision of Energy Taxation Directive
Current and future financial instruments and investment schemes
- Trends in the availability and effectiveness of financial instrument and investment schemes with the EU
- The role of public and private sector investment
- Barriers to storage investment across the EU Member States
- Innovative energy storage solutions to addressing gaps and needs
Business / Markets developments - implications for investment
- New innovative energy storage solutions
- Update on strategies for energy storage for energy security and affordable prices
- Market outlook 2030: long-term and seasonal storage
- Batteries for mobility: beyond Li-Ion (e.g., LFP, new chemistry)
These topics are meant to constitute the background for the WG’s discussion. The list is not exhaustive and will be subject to changes depending on the latest policy, market, geopolitical developments as well as contributions and suggestions from the members of the group.
In addition, the participants of the Working Groups will have the opportunity to discuss other crosscutting topics, including:
EU Policy developments - implications for investment
- Implications of the REPowerEU Join action for investment
- Implications of the EC Communication on energy prices
- Implications of the EC Action plan on the digitalisation of the energy sector
- Implications of the EC European Strategic Energy Technology Plan
- Implications of the EC State of the Energy Union 2022 report for investment
- Implications of the EC Progress Report on the Competitiveness of clean energy technologies
- 2020 NECPs assessment and upcoming revision of the plans in 2023
- Progress and implications of the Circular Economy package
Current and future financial instruments and investment schemes
- Implications of the EU taxonomy for energy sector investment
Business / Markets developments - implications for investment
- Evolutions of business cases in light of the carbon price developments (in particular in view of the proposed revision of the ETS system and proposal for Carbon Border Adjustment Mechanism)