<p>Coping with prolonged periods of low availability of wind and solar power, also referred to as variable renewable energy droughts or “Dunkelflaute”, emerges as a key challenge for realizing decarbonized energy systems based on renewable energy. Here we investigate the role of long-duration electricity storage and geographical balancing through transmission in dealing with such events in Europe, combining a time series analysis of renewable availability with power sector modeling of 35 historical weather years. We find that extreme droughts define long-duration storage operation and investment. Assuming policy-relevant interconnection, the least-cost system in our model capable of coping with the most extreme event requires 351 terawatt hours long-duration storage capacity, corresponding to 7% of yearly European electricity demand. While nuclear power can partially reduce storage needs, the storage-mitigating effect of fossil backup plants in combination with carbon removal is limited. Policymakers and system planners should prepare for a rapid expansion of long-duration storage to safeguard the renewable energy transition in Europe.</p>