Hungary Launches €2.1 Billion Residential Battery Storage Subsidy
Hungary has officially announced a large-scale residential battery energy storage subsidy program, signaling a major acceleration of energy storage deployment across Central
The Hungary panel discussion at the event. Image: Solar Media. Hungary's subsidy scheme for energy storage will drive huge growth in battery energy storage system (BESS) deployments over the next few years.
Hungary notified to the Commission, under the Temporary Crisis and Transition Framework, a Hungarian scheme to support the installation of at least 800 MW/1600 MWh of new electricity storage facilities.
The European Commission has approved a €1.1 billion (approximately HUF 436 billion) Hungarian scheme to support electricity storage facilities to foster the transition to a net-zero economy.
Moderator Nikita Chandrashekar, director at advisory Augusta & Co, said the scheme made Hungary an attractive market: “It is probably one of the most advanced subsidies schemes to bring energy storage forward. So from a revenue perspective, perhaps, unlike some other markets, the business case in Hungary seems pretty well developed.”
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