In December, Corsica Sole opened the largest energy storage facility in Europe, with a capacity for 100 MWh of electricity. It features forty lithium-ion mega-batteries, at the cost of €800,000 a unit. After the battery’s 10-year lifespan is over, it will be recycled. The center is a vital step in the European Union’s road to decarbonization and energy independence.
Why is it important?
The transition to clean energy comes with a variety of challenges. Among them is the need for energy storage. Renewable energy can fluctuate, with changes in sunlight and wind intensity. To prevent power outages, the EU needs capacity infrastructure to store electricity. An expanded ability to store energy has the added benefit of creating power security. Europe in particular was affected by the 2022 invasion of Ukraine. The shocks to the energy market caused by the removal of Russian oil and gas highlighted the need for energy independence. Facilities like the one opened in Wallonia are critical for the future of EU energy.
The transition to clean energy
Investments in energy capacity will have spillover effects for companies as well. As scope 3 reporting becomes mandatory, companies will need to get their energy from more environmentally friendly sources. One of the main difficulties companies often face is the cost of transitioning. Similarly, the chaotic energy market causes headaches for energy-intensive industries like food and beverages. Until energy-efficient sources like Hydrogen become commonplace, facilities like the one in Belgium will be vital to decarbonization across the EU. regardless, it is a strong signifier of the global push to cut emissions and prioritize green energy.
What should companies keep in mind?
The expansion of energy storage capacity is a clear indicator that the market will embrace decarbonization in the long run. Businesses should plan accordingly. This is good news for companies that have already begun to consider renewable energy sources, as these will become more and more accessible. Additionally, large-scale storage will help energy prices to remain stable in the future, with cumulative benefits for all.
Companies need to learn from their peers who have embraced this technology. The Net Zero Food & Beverage Forum: Energy Efficiency and Decarbonisation conference, held from the 16th to 17th of February is an ideal opportunity. Industry leaders and innovators will gather in Berlin to discuss and exchange ideas and experiences with managing energy consumption. Learn more about how conferences can help your business here. Visit future-bridge.eu or follow us on our social media to keep track of other events about energy use and decarbonisation.