Discussion: Perspectives for the Development of the Electricity Storage Technology (Including Battery) Market in Latvia

Like any new market segment, the market for energy storage technologies faces certain obstacles. This year, relatively high battery purchase costs and insufficient awareness of the opportunities offered by these technologies have been key factors that may discourage households or businesses from adopting them. In Lithuania, a specific subsidy program has been developed for these technologies to help cover part of the battery acquisition costs.

Considering that the government will be updating the National Energy and Climate Plan in the coming years, this is a good moment to plan similar activities in Latvia as well, although this naturally requires a certain investment of time and resources in collaboration with policymakers.

Fourteen industry representatives and experts gathered for the discussion. During the meeting, a vision for the development of the battery market was presented, and participants debated whether market players are ready for such a joint initiative.