Big Business Urges Faster Electrification
A group of major international corporations has urged governments to speed up the electrification of business to reduce reliance on “volatile fuel markets”, Reuters reported today, citing a letter penned by the heads of the companies.
“Continued reliance on volatile fuel markets exposes economies to disruptions that drive price spikes, destabilise supply chains and delay investment,” the companies wrote in the letter. The group wrote. There were 112 signatories to the letter, including Ikea, Nestle, Volvo Cars, Nikon, Iberdrola, and Uber. The group has some $1.5 trillion in combined annual revenues, Reuters noted.
Calls for the electrification of everything have intensified since the start of the war between the United States, Israel, and Iran, with the motive changed from emission reduction to energy security. Proponents of electrification claim that reliance on electricity reduced energy supply uncertainty stemming from geopolitical developments.
While there is some merit to the argument in favor of electrification, reliable electricity - the kind that businesses need - still comes overwhelmingly from hydrocarbons plus nuclear, meaning the global energy system remains dependent on supply chains vulnerable to adverse geopolitical events.
Still, business leaders appear convinced that the successful and reliable electrification of the economy is only a question of government policies. “To reach the required scale, the transition to electrification notably needs to be accelerated through predictable and enabling policy frameworks,” according to H&M’s senior sustainability climate manager, Kim Hellström, as quoted by Reuters.
Last week, Reuters released a poll suggesting that the majority of global business leaders expect their operations to be “largely electrified” by 2035. The poll was conducted by Public First, under commission from three climate change-focused organizations among business leaders in 18 countries. The survey also found that 90% of respondents believe switching from hydrocarbons to wind and solar would be conducive to economic growth.
By Irina Slav for Oilprice.com
A group of major international corporations has urged governments to speed up the electrification of business to reduce reliance on “volatile fuel markets”, Reuters reported today, citing a letter penned by the heads of the companies.
“Continued reliance on volatile fuel markets exposes economies to disruptions that drive price spikes, destabilise supply chains and delay investment,” the companies wrote in the letter. The group wrote. There were 112 signatories to the letter, including Ikea, Nestle, Volvo Cars, Nikon, Iberdrola, and Uber. The group has some $1.5 trillion in combined annual revenues, Reuters noted.
Calls for the electrification of everything have intensified since the start of the war between the United States, Israel, and Iran, with the motive changed from emission reduction to energy security. Proponents of electrification claim that reliance on electricity reduced energy supply uncertainty stemming from geopolitical developments.
While there is some merit to the argument in favor of electrification, reliable electricity - the kind that businesses need - still comes overwhelmingly from hydrocarbons plus nuclear, meaning the global energy system remains dependent on supply chains vulnerable to adverse geopolitical events.
Still, business leaders appear convinced that the successful and reliable electrification of the economy is only a question of government policies. “To reach the required scale, the transition to electrification notably needs to be accelerated through predictable and enabling policy frameworks,” according to H&M’s senior sustainability climate manager, Kim Hellström, as quoted by Reuters.
Last week, Reuters released a poll suggesting that the majority of global business leaders expect their operations to be “largely electrified” by 2035. The poll was conducted by Public First, under commission from three climate change-focused organizations among business leaders in 18 countries. The survey also found that 90% of respondents believe switching from hydrocarbons to wind and solar would be conducive to economic growth.
By Irina Slav for Oilprice.com
Europe’s Battery Storage Installations Set to Quadruple by 2030
further accelerate through 2030 as utility-scale projects lead growth, the SolarPower Europe association said in a new report on Tuesday.
Last year, the European battery storage market saw 36 gigawatt-hours (GWh) of new installations, up by 48% from 2024, when growth had slowed.
Installations rebounded strongly in 2025, and are set to continue accelerating. This year, annual installations are expected to top 50 GWh, SolarPower Europe said. The annual pace of new additions is then projected to jump to as much as 138 GWh in 2030, which would be a fourfold surge compared to 2025.
In the European Union, battery capacity is expected to jump six-fold by 2030 to reach 470 GWh by 2030, according to SolarPower Europe.
Yet, this would be below the 600 GWh SolarPower Europe has estimated the EU needs to align with its energy security, competitiveness, and decarbonization objectives.
“Europe’s battery market is moving in the right direction, but we are not yet where we need to be,” said Walburga Hemetsberger, CEO of SolarPower Europe.
In 2025, Europe’s three top battery storage markets, Germany, UK, and Italy, consolidated their leading positions in Europe, while Ukraine and Bulgaria – with the fastest growth – emerged to complete the top 5 markets across all Europe.
Overall, the top 5 markets accounted for 62% of all installations in Europe in 2025, while the top markets delivered almost 80% of yearly deployment in 2024.
“This underlines that that Europe’s battery storage expansion is diversifying, with a larger contribution from smaller markets,” SolarPower Europe said.
Europe’s renewables-plus-batteries market is also set to soar in the coming years, Aurora Energy Research said in a report last month.
Capacity installations of renewable energy co-located with batteries for storage are expected to surge in Europe from 6 gigawatts in 2025 to as much as 35 GW by 2030. Aurora Energy Research examined developments in 20 European markets in terms of attractiveness for co-location, and identified Germany, Great Britain, and Bulgaria as Europe’s most attractive co-location investment markets.
By Michael Kern for Oilprice.com
further accelerate through 2030 as utility-scale projects lead growth, the SolarPower Europe association said in a new report on Tuesday.
Last year, the European battery storage market saw 36 gigawatt-hours (GWh) of new installations, up by 48% from 2024, when growth had slowed.
Installations rebounded strongly in 2025, and are set to continue accelerating. This year, annual installations are expected to top 50 GWh, SolarPower Europe said. The annual pace of new additions is then projected to jump to as much as 138 GWh in 2030, which would be a fourfold surge compared to 2025.
In the European Union, battery capacity is expected to jump six-fold by 2030 to reach 470 GWh by 2030, according to SolarPower Europe.
Yet, this would be below the 600 GWh SolarPower Europe has estimated the EU needs to align with its energy security, competitiveness, and decarbonization objectives.
“Europe’s battery market is moving in the right direction, but we are not yet where we need to be,” said Walburga Hemetsberger, CEO of SolarPower Europe.
In 2025, Europe’s three top battery storage markets, Germany, UK, and Italy, consolidated their leading positions in Europe, while Ukraine and Bulgaria – with the fastest growth – emerged to complete the top 5 markets across all Europe.
Overall, the top 5 markets accounted for 62% of all installations in Europe in 2025, while the top markets delivered almost 80% of yearly deployment in 2024.
“This underlines that that Europe’s battery storage expansion is diversifying, with a larger contribution from smaller markets,” SolarPower Europe said.
Europe’s renewables-plus-batteries market is also set to soar in the coming years, Aurora Energy Research said in a report last month.
Capacity installations of renewable energy co-located with batteries for storage are expected to surge in Europe from 6 gigawatts in 2025 to as much as 35 GW by 2030. Aurora Energy Research examined developments in 20 European markets in terms of attractiveness for co-location, and identified Germany, Great Britain, and Bulgaria as Europe’s most attractive co-location investment markets.
By Michael Kern for Oilprice.com
NatPower and Tesla Strike 25 GWh European Battery Storage Deal
NatPower has signed a multi-year agreement with Tesla covering the supply and deployment of more than 25 gigawatt-hours of battery energy storage systems across European markets, with initial projects planned in Italy and the United Kingdom.
Under the agreement, Tesla will provide its Megapack battery storage technology, engineering, procurement, and construction services, and energy trading optimization through its Autobidder platform. The projects will be owned and operated by NatPower.
The companies said the partnership extends beyond equipment supply by integrating project development, financing, construction, and energy trading into a single framework designed to accelerate large-scale battery deployment.
The first phase includes five projects in Italy and the UK and forms part of a broader development pipeline targeting more than 100 GWh of storage capacity. NatPower estimates the full program could represent $4 billion to $5 billion in construction value and generate more than $15 billion in revenue over a 20-year period.
The agreement highlights the growing importance of large-scale energy storage in Europe as power systems face rising electricity demand from electrification, renewable energy integration, and the rapid expansion of artificial intelligence infrastructure and data centers.
Battery storage has become a critical component of grid modernization, helping balance intermittent renewable generation while providing dispatchable power and grid stabilization services. Europe is expected to require substantial storage additions over the coming decade to support decarbonization goals and maintain grid reliability.
Tesla has emerged as one of the world's largest suppliers of utility-scale battery storage systems through its Megapack product, while NatPower has been expanding its position as a developer and operator of energy infrastructure projects across Europe.
According to the companies, the storage assets covered by the agreement will provide grid balancing services, optimize renewable energy output, and support electricity-intensive customers, including industrial facilities and data centers.
NatPower CEO Fabrizio Zago described the partnership as a shift from project development to large-scale execution, while Tesla Energy Vice President Mike Snyder said the agreement leverages Tesla's integrated hardware, software, construction and trading capabilities to accelerate battery deployments across Europe.
By Charles Kennedy for Oilprice.com
No comments:
Post a Comment