Hungary’s government announced a program with a budget of 62 billion Hungarian forints (163 million euros) encouraging the development of domestic enterprises that increase the flexibility of the electricity system and promote the more efficient use of green energy.
Companies can obtain investment support and revenue compensation through the grant call opening in mid-January. According to the announcement, energy storage systems to be established by no later than May 2026 will increase the current domestic capacity of about 20 megawatts (MW) more than twentyfold.
The Ministry of Energy plans to increase the size of the energy storage market by combining legislative and financial incentives. The European Commission also recognizes the validity and eligibility of the development intentions, wrote the ministry in its press release.
The storage of green energy can partially offset the performance fluctuations of weather-dependent renewables. The installation of energy storage systems thus promotes the further expansion of clean energy sources. “Energy storage contributes to strengthening Hungary’s energy independence and can reduce the operational and regulatory costs of the electricity grid,” said the ministry.
The grant, with non-repayable investment support and revenue compensation, encourages companies to establish energy storage facilities and maintain them for at least ten years. Businesses can access state support on the condition that the storage facilities are used on the balancing market. It is anticipated that the ultimate beneficiaries can install new energy storage systems with a total capacity of approximately 440 MW.
The government plans to support families as well in installing solar panel systems with a different program which opens in January. The residential allocation, with a budget of 75 billion Hungarian forints, assists households in the production, storage and utilisation of green energy.
