European Solar Energy Industry Association, the growth of solar power installed capacity in the EU may slow by 24% in 2024 and 23% in 2025 due to weak wholesale electricity prices and problems in license acquisition and grid connection.
The EU's target is 600 GW of installed solar capacity by 2030, and deployment needs to be dramatically accelerated to achieve the transition to non-fossil energy.
SolarPower Europe said in its market outlook that the 27-member group will increase its solar power generation scale by 27% to 263 GW by 2023 .
Referring to 2022 and early 2023, the report said that the war between Russia and Ukraine "triggered a surge in electricity and natural gas prices and concerns about energy supply disruption, which led to serious energy security issues and gave solar energy a new perspective". " ( But) demand for residential solar photovoltaic (PV) slowed in the second half of 2023.".
SolarPower Europe blamed the economic slowdown for sharply weaker wholesale electricity prices and higher inflation, as they removed the urgency of energy security concerns while raising costs for local equipment makers.
Solar systems range from individual rooftop installations to consumption in commercial and industrial plants and ground-mounted large utility plants.
SolarPower Europe said that the total installed capacity in the European Union in 2023 was 56 GW, an increase of 40% over 2022 and a new record for the third consecutive year.
Preliminary data is based on its ongoing monitoring of capacity and market conditions and will be finalized in the first half of 2024.
Germany topped the list with 14 GW, followed by Spain (8.2 GW) and Italy (4.9 GW). In total, Germany operates 82.1 GW of solar capacity.
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