Total investment cost of utility scale ESS project in Hungary

Will Hungary support large-scale energy storage projects?

The European Commission has approved a €1.1 billion scheme from the government of Hungary to support large-scale energy storage projects.

Which energy storage companies are deploying large-scale Bess projects in Hungary?

System integrators Tesla and Wärtsilä have deployed large-scale BESS projects in Hungary previously. Energy-Storage.news’ publisher Solar Media will host the inaugural Energy Storage Summit Central Eastern Europe on 26-27 September this year.

How much money is available for energy projects in Hungary?

The funding is equivalent to HUF 436 billion. The money is available for companies active in Hungary’s energy sector, except financial institutions, and will also be available for projects outside its borders which can provide the power through cross-border transmission capacity.

Which countries have used EU funding for storage?

Other countries to have used EU funding, including Recovery and Resilience, for storage include Greece Romania Finland Croatia Estonia and, as reported last week, Slovenia. System integrators Tesla and Wärtsilä have deployed large-scale BESS projects in Hungary previously.

Which energy storage technologies are eligible?

All energy storage technologies are eligible, although lithium-ion remains the technology of choice for the vast majority of large-scale projects today. The projects will be selected through a competitive bidding process and grants will be awarded before the end of 2025.

How much does battery storage cost in Europe?

The landscape of utility-scale battery storage costs in Europe continues to evolve rapidly, driven by technological advancements and increasing demand for renewable energy integration. As we’ve explored, the current costs range from €250 to €400 per kWh, with a clear downward trajectory expected in the coming years.