Bulgaria leads Europe in battery storage, Greece accelerates development

Bulgaria has rapidly become a world leader in energy storage, installing 5.4 GW of battery capacity, 22.8% of its total power generation, in just two years.

This achievement surpasses even California, despite the latter having a much larger electrical system. Bulgaria’s success stems from its use of European Recovery Funds, specifically through programs supporting both renewable energy projects paired with storage and standalone battery projects.

Approximately 590 million euros in grants initially spurred over 1.5 billion euros in private investment, fueled by economic incentives created by fluctuating energy prices and a stable investment framework. The country previously experienced low or negative electricity prices during peak solar production, creating an opportunity for batteries to store cheap energy for use during more expensive evening hours. Despite repeated elections and short-lived governments, Bulgaria maintained consistent funding rules and construction deadlines, attracting significant investment.

While this initial advantage may diminish as more batteries stabilize prices, continued growth is expected with around 1 GW of additional capacity planned in the coming months. Greece took a different approach, prioritizing energy efficiency and upgrades with its Recovery Fund resources, though it has allocated 400 million euros to battery storage through three competitions. Plans now include rooftop solar with storage, business storage solutions, and a pumped hydro storage project.

Greece expects to have around 1 GW of storage capacity by the end of 2026 and 1.5 GW by mid-2027, with further expansion planned as renewable energy sources increase.