EU, biggest importer of solar panels by 2035 - IEA predicts 35% increase in imports of the bloc for renewables
The European Union is the world's largest importer of solar panels and is expected to remain so until at least 2035, according to the latest report from the International Energy Agency (IEA). Clean energy technologies on the bloc's import bill are projected to grow from under 10% last year to 35% in 2035.
The EU's domestic production of solar panels covered just under 15% of demand in 2023, with imports covering the rest and even creating stocks at around three times the level of installations last year, according to the report, titled Prospects for Energy Technology 2024. The European Union buys solar modules mainly from China and Southeast Asian countries, although some imports now also come from the United States.
Europe's domestic production is around 7 GW per year and there are currently no announcements of significant production expansion. Furthermore, there are signs that existing solar module production capacity may be reduced.
At the same time, the Agency's report notes that the EU produces less than 1% of the global total of photovoltaic plants. However, the block has maintained its share of 3% of global polysilicon supply, thanks to the high purity of the material produced in Germany and its exports to China.
According to a scenario analyzed in the report, the world's solar module production capacity could reach 1,695 GW in 2035, compared to 1,115 GW in 2023.
The value of the global market for solar panels, wind farms, electric cars, electrolyzers and heat pumps nearly quadrupled between 2015 and 2023, to over $700 billion, or about half the value of all natural gas produced in the world. Under current policies, the global market for these clean technologies will nearly triple by 2035, surpassing $2 trillion.
Poll
"4.5 billion ALL for professional education in 2025 - Deputy Minister Olta Manjani, in the parliamentary committee for Education
In the Parliamentary Committee for Education and Public Information Media, the draft law "On the Budget of 2025" is being discussed in principle with the......
The project becomes clearer/ How will Albania activate the ex-soldiers? - Criteria: Not more than 60 years old. 45 days of service per year
2100 former soldiers or civilians will have the opportunity to become part of the reservists of the Albanian army. The draft law approved by the Council of......
In which county are there more singles? About 36.6% of the population have never married, men dominate
According to Census 2023 data, Albanians are getting married less and less. About 36.6% of the total population in the country is single or never married. Of......
The project, a new flower garden of 13 thousand square meters in Vlora - Retraining for the "Trojan Horse" and Ali Demi
The flower gardens of the city of Vlora will undergo urban retraining. The Municipality of Vlora has announced the tender worth 20.9 million ALL for the......
The Euro weakens while the Dollar and the Pound recover points!
The European currency has weakened this morning after the close of the American elections, being bought today at 97.9 ALL and being sold at 98.5 ALL compared......
6,000 families benefit from discounts for air conditioners - North Macedonia offers coupons for low-income families
The Ministry of Energy, Mines and Mineral Resources in North Macedonia announces that it has started giving coupons for the purchase and installation of......
"We aim to increase access to culture" - Minister Gonxhja, in the Education Commission for the 2025 budget
In the Parliamentary Committee for Education and Public Information Media, the draft law "On the Budget of 2025" is being discussed in principle with the......
"How will we increase the revenues in the budget in 2025"? - Minister Petrit Malaj, in the parliamentary Committee on Economy
The Minister of Finance, Petrit Malaj, is speaking at the Parliamentary Committee on Economy and Finance about the revenues and expenses of the 2025 draft......
