Hungarian Government to Provide Energy Storage Subsidies
Hungary to Increase Support for Energy Storage to Over HUF 300bn
Energy Minister Csaba Lantos recently announced that domestic support for energy storage in Hungary is set to increase to more than HUF 300bn. Several large storage facilities are expected to be inaugurated this year, marking a significant investment in green energy production and storage in the country.
Lantos highlighted that current applications are already supporting families and businesses with HUF 260bn for investments in green energy production and storage. This funding is expected to exceed HUF 300bn soon. Additionally, HUF 33bn has been allocated for system operators and distributors to install grid-integrated energy storage systems.
In a separate tender aimed at a wider range of companies, contracts are being signed to support the completion of 50 facilities by 2026 with HUF 62bn in state contributions. Hungary’s solar energy capacity has already surpassed 7.5 GW, with plans to reach 12 GW by 2030. However, network investments will be required to connect this additional capacity to the grid.
Lantos also mentioned plans for combined cycle gas turbine power plants, which will help reduce import exposures and enhance energy sovereignty and supply security. A 600 MW pumped-storage power plant is in the works, alongside considerations for smaller 100 MW versions. The minister also emphasized the allocation of HUF 10bn to reduce financial risks associated with geothermal drilling and to modernize existing thermal wells.
Furthermore, two district heating tenders are planned to support the sector’s transition to green technology with a fund of HUF 50bn. Regarding Hungary’s oil and gas supply stability, Lantos reassured that while most fossil fuel shipments currently come from the south, the country is not at immediate risk of supply disruption from the east. Plans to relaunch hydrocarbon drilling concessions for eight areas in January aim to boost domestic production.
Overall, Hungary’s commitment to investing in energy storage and green technologies signals a positive step towards a more sustainable and secure energy future.
