Corre Energy has called on newly elected Members of the European Parliament and EU policymakers to implement supportive policies for long-duration energy storage (LDES). The company emphasizes the need for a clear, stable framework to advance LDES projects across Europe.
“The shift to renewable energy sources such as wind and solar power will increasingly expose us to periods characterized by an imbalance between supply and demand,” said Keith McGrane, CEO of Corre Energy. “LDES provides a viable solution to this challenge and charts a path towards a resilient, secure, sustainable, and affordable energy supply that can power Europe's economy for the benefit of its 448 million citizens.”
Corre Energy advocates for concerted action from elected officials and policymakers to expedite the rollout of LDES projects, aiming to accelerate Europe's transition away from fossil fuels.
By maximizing the integration and use of Europe's renewable energy resources, LDES can reduce electricity generation costs, enhance energy security by reducing dependence on imported fossil fuels, and lower emissions.
The company's six key policy requests include establishing legal definitions and setting targets for energy storage at the Member State level, creating a distinct asset class for energy storage within EU legislation, and streamlining storage permitting processes.
Additionally, they call for adopting flexible and realistic modeling approaches for energy storage needs, securing dedicated funding, streamlining the Connecting Europe Facility (CEF) for storage projects, and establishing a best-practice hub for project delivery.
