SolarPower Europe Report: Solar’s Recent Achievements and Challenges

Published on December 13, 2023 by Angela Skujins

SolarPower Europe’s report highlights a record-breaking year for solar growth in the European Union, with member states installing a staggering 56 GW of photovoltaic (PV) solar capacity, consistent with three years of 40% year-on-year gains. Germany, Spain, Italy, Poland, and the Netherlands lead the way in solar installations. However, concerns loom as solar’s rapid ascent faces potential challenges, including declining energy prices and soaring project interest rates, with projected growth slowing to 11% next year. Residential rooftop solar demand has also slowed due to legislative delays. Policymakers are urged to expedite grid connections, streamline permitting, and support European solar manufacturing to sustain growth. Despite these challenges, the EU’s solar capacity now stands at 263 GW, with optimistic forecasts for expansion in the coming years. SolarPower Europe recommends policy amendments, emphasizes the inadequacy of trade defense measures, and looks forward to sustainability initiatives to secure a transparent and ethical solar supply chain. Recognizing the critical juncture at which solar stands, continued policymaker support is essential for a thriving European solar future.

Read the full report here.