successful bid price of lead acid battery storage project in Spain 2030

What is Spain's battery storage market?

Spain’s battery storage market is dominated by customer-sited systems. Utility-scale storage remains nascent. Currently, Spain’s storage market is mainly composed of small-scale batteries co-located with solar PV. Spain’s household electricity prices now stand at over EUR 0.30/kWh on average.

Why are battery storage options more suitable in Spain?

As a result, shorter duration storage options like batteries are more suitable in Spain. In Spain, over 50% of excess renewable energy occurs in periods where there is continuous excess for less than 12 hours i.e. a battery that chooses to charge on this energy would be able to discharge within 12 hours.

How much does a battery cost in Spain?

Spain has historically had a wholesale price floor at 0 €/MWh. This is now being modified to -500 €/MWh in line with other European markets (announced Dec 20). Although very low prices have not been prevalent in Spain to date, this should help battery returns as renewable penetration increases at pace across this decade.

What revenue streams are available to battery energy storage systems?

Revenue Streams: The wholesale and ancillary service market (comprising over 5 revenue streams) is available to battery energy storage systems. Spain has approved plans to introduce a capacity market.

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Provided analysis and modelling to support storage developers, investors and operators on 30+ projects, including BESS, co-located assets and long-duration storage across markets.

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