European Market Outlook for Solar Power

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Recording of Tuesday, June 18, 2024 | The smarter E Europe 2024 | Conference Program | Language: English | Duration: 16:52 .

European Solar Market Sees 50% Growth in Annual PV Capacity, Surpassing 70 GW Installed in 2023

The European Solar Market Outlook presentation provides a comprehensive overview of the significant growth trends and future projections for solar PV capacity across Europe, utilizing GMO data. In 2023, Europe's annual solar PV capacity experienced over 50% growth year-on-year, installing more than 70 gigawatts. This marks an acceleration compared to previous years (30% in two years ago and 45% one year ago), indicating that the market is entering a new phase of rapid expansion. Germany leads with more than 10 gigawatts of annual installations, far exceeding other European markets. Other notable performers include Italy, Turkey, Austria, and Sweden—all showing substantial increases in installed capacities. Cumulative capacity on the continent crossed the milestone of 300 gigawatts in 2023 with a remarkable annual growth rate of 28%. The EU's share has slightly decreased compared to non-EU countries like the UK and Turkey contributing significantly. Projections forecast continued albeit slower growth at around 10% annually through to higher plateau levels by mid-2020s up until reaching approximately122 GW cumulative by 2028. In terms of VAT per capita installation rates: Netherlands leads globally second only behind Australia; Germany also performs strongly along smaller nations Estonia Luxembourg Switzerland comprising top global ranks evidencing Europe's clear leading position relative worldwide averages renewable energy sector development cycle overall stability optimistic outlook ahead

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Speaker

Raffaele Rossi
Head of Market Intelligence
SolarPower Europe
Belgium

Talk of session: Leading European PV Markets II: How to Keep Solar Momentum Growing After the Energy Crisis

After three consecutive years of more than 40 percent growth in the European solar market, the main drivers - the energy crisis and resilience support programs - no longer apply: energy prices have dropped to almost pre-pandemic levels. The key question is: How can we maintain the solar growth momentum across the continent, from major to emerging markets?This session will cover: Status of solar power demand in Europe Updated European installation forecasts through 2028 Obstacles & opportunities in leading and major emerging European solar markets.

Further Talks of this session:

Welcome and Introduction

Speaker

Josefin Berg
Associate Director
S&P Global

To Talk

Demand, Supply & Price Dynamics in Europe

Speaker

Daniel Schmitt
Founder & CEO
Memodo
Germany

To Talk

Panel With Executives of National Solar Associations of Leading Solar Markets

Speaker

Wijnand van Hooff
CEO
Holland Solar
The Netherlands

Mariyana Yaneva
Vice Chair
APSTE - the Association for Production, Storage and Trading of Electricity
Bulgaria

Paolo Rocco Viscontini
President
Italia Solare
Italy

José Donoso
General Director
Unión Española Fotovoltaica (UNEF)
Spain

Xavier Daval
CEO
kiloWattsol SAS
France

To Talk

Further Content
Publications
Insights on Renewable Home Energy Solutions from PV System Owners & Planners - Germany - Part 1

Issue 18 | May 28, 2025

Germany is experiencing a significant shift towards renewable energy solutions for the home sector.

Publications
Insights on Renewable Home Energy Solutions from PV System Owners & Planners - Germany - Part 2

Issue 19 | June 12, 2025

EUPD Reaserch's second part of the short study takes a closer look at German homeowners who have invested in or are planning to invest in Battery Electric Vehicles (BEVs) and charging stations.

Publications
Understanding EPCs' Perspectives on the C&l Solar Market in Six Leading EU Country Markets - Part 1

Issue 20 | July 15, 2025

The European solar sector experienced a historic milestone in 2023, with the EU-27 achieving a record-breaking 62.1 GWdc in photovoltaic (PV) installations. This surge underscores the urgency with which member states are moving toward their climate and energy targets

Publications
Understanding EPCs' Perspectives on the C&l Solar Market in Six Leading EU Country Markets - Part 2

Issue 21 | July 29, 2025

The outlook for the Commercial & Industrial (C&I) solar sector in Europe is optimistic. A significant share of consumers view the current business climate positively, with most expecting further market improvement.

Antonio Arruebo from SolarPower Europe
Solar Meets Storage: Unlocking the Potential of PV Power Plants and Large-Scale Battery Systems

The smarter E Podcast Episode 225 | Language: English

July 10, 2025

Hybrid solar supports system flexibility, improves the cost-effectiveness of an asset and makes energy generation more reliable.

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