8 Highlights from SPE’s Solar EU Market Forecast
16 December 2021
The EU Market Outlook for Solar Power 2021-2025 of Solar Power Europe was launched this week, and the forecast looks promising for the European PV industry. The report includes estimates for the EU solar market in 2021 and projections of the evolution of the market through 2025.
Here are the top eight highlights:
1. Installed capacity of solar power in the European Union has grown significantly in 2021 with 25.9 GW of new solar PV capacity connected to grids, an increase of 34% from 2020.
2. Countries in the European Union are over-achieving their NECP targets and fueling the rapid development of Solar projects.
3. Estimation of doubling of the installed capacity in the next four years, with Germany, Netherlands, Spain, France, and Poland being the top contributors.
4. Utility-scale and rooftop systems will grow equally in Germany in the next four years, with rooftop growth fueled by the policy obligating rooftop solar installation on commercial buildings.
5. 2022 onwards, Spain is estimated to observe potential growth in the rooftop market and steady growth in the utility market.
6. The Netherlands will have massive growth in the commercial and residential solar sector, steadily covering 80% of the installed PV market share until 2025.
7. Poland might see a reduction in the massive growth of small rooftops seen last year. After the policy changes in April, 2022 residential customers might have to wait longer for their return on investment.
8. France targets to quadruple its solar installation in the next seven years with 2/3rd of its new installation being utility-scale and 1/3rd being rooftop. Recent policy change which offers Feed-in Tariff benefits to plants below 500KW will also help the development of Rooftop in France.
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