Solar and battery storage drive energy cost reductions in US and Greece

Increased solar power production and expanded battery storage capacity have significantly reduced electricity costs in California and Texas. According to the Solar Energy Industries Association (SEIA), these technologies saved approximately $6 billion during the summer of 2026 compared to the same period in 2021. Texas saw $3.55 billion in savings, while California saved $2.5 billion. In Texas, solar production rose by 421% and battery capacity increased over 26-fold since 2021. California experienced a 51% drop in average wholesale electricity prices.

In Greece, the energy storage market is entering a new phase with the connection of large-scale battery projects to the electrical grid. A major 330 MW / 790 MWh storage facility by Metlen and the Karatzis Group in Larissa, representing a €170 million investment, marks the country's entry into large-scale battery systems. Such installations are considered critical for absorbing surplus renewable energy and stabilizing wholesale market prices. Other companies, including Motor Oil's renewable arm MORE, are also advancing storage projects to enhance grid flexibility.