EU, expansion of solar panels slows down - Reduction of new installations risks meeting 2030 targets
Solar installation growth in Europe fell to just 4% this year after several years of double-digit growth, according to industry data, raising concerns about the continent's clean energy transition.
The figures are a warning for plans to rapidly expand renewable energy, a central pillar of the bloc's efforts to combat climate change and end dependence on Russian fossil fuels.
The amount of solar power installed in the EU had increased by more than 40% year-on-year in both 2021 and 2022, and by more than 50% in 2023, industry association SolarPower Europe said. This year, 65.5 gigawatts (GW) of solar power were installed, a record high, but only 4% more than what was installed in 2023.
The European Union needs to install 70 GW of new capacity each year to meet green targets for 2030. The group cut growth forecasts as a result of this year's slowdown. The central outlook still expects Europe to have 816 GW of installed solar capacity by 2030, enough to meet Europe's green targets and up from 338 GW today.
But for the first time, the "low" outlook would now see Europe miss its targets to expand renewable energy. The data showed that rooftop solar installations decreased year-on-year by nearly 5 GW, to 12.8 GW in 2024.
SolarPower Europe explained that this was due to energy prices falling from their peak during Europe's 2022 energy crisis, weakening the incentive for consumers to buy solar panels. Investment in European solar projects also fell, for the first time this decade.
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