Luxembourg s energy storage industry has overcapacity

What challenges does Luxembourg face in the energy sector?

The government has adopted ambitious energy sector targets, including a 50-55% reduction of greenhouse gas emissions by 2030. Luxembourg faces challenges achieving those targets. Low energy prices for consumers are creating a barrier to the investments needed in energy efficiency and renewables.

Are energy prices a long-term investment obstacle in Luxembourg?

Energy prices are also cited by Luxembourgish businesses (84%) as uncertainty about the future as their top long-term investment obstacles. Emissions of carbon dioxide in total, per capita in 2007 were 22.4 tons CO 2 compared to EU 27 average 7.9 tons CO 2. 1990 emissions were 13 Mt CO 2eq Kyoto protocol target is reduction of 4 Mt (28%).

Why is energy storage so important in China?

This year, two-thirds of all storage installations are being used for energy-shifting applications, like price arbitrage and helping to integrate renewables. That’s a big jump from previous years and reflects a growing number of provincial mandates in China that require wind and solar projects to be paired with energy storage.

Are energy storage installations going up 61% this year?

BloombergNEF team of analysts who follow the space are expecting this to continue, with energy storage installations rising 61% this year. Prices for turnkey energy storage systems are down 43% from a year ago, and that’s leading to a big increase in deployments.

Will the stationary storage market continue?

Despite that, it’s worth keeping an eye on the stationary storage market, which has boomed the last two years. BloombergNEF team of analysts who follow the space are expecting this to continue, with energy storage installations rising 61% this year.

Can a residential energy storage system sit on a balcony?

At a recent industry trade show, BNEF analysts noted a significant number of residential energy storage systems designed to sit on balconies and pair with a growing amount of solar PV systems in Europe targeting the same market. These are niche applications for now, but they highlight how industries get creative when the pressure is on.