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.
GS Yuasa also produces automotive lithium-ion starter batteries, while Inzi Control also manufactures battery modules. Many of the significant suppliers of the battery industry in Hungary are located directly near the main car manufacturing plants.
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.
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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