EU solar growth slows in 2024, threatening 2030 targets

Green Forum
SolarPower Europe (SPE) forecasts 65.5GW of solar PV additions in the EU for 2024, marking a significant slowdown compared to previous years. After record growth of 62.8GW in 2023, this year's growth is just 4.4%—the lowest since 2017.

The slowdown follows the solar boom triggered by the energy crisis, as energy bills normalize and urgency wanes. Developers face challenges like grid bottlenecks and fewer incentives. Residential rooftop solar installations are particularly impacted, with a 5GW decline from 2023 to 12.8GW in 2024. Countries such as the Netherlands, Germany, and Italy saw notable decreases, partly due to policy changes like the phaseout of net metering.

Half of the EU's top 10 solar markets, including Spain, Poland, and Austria, saw declines in capacity additions. The Netherlands experienced the steepest drop of 1.8GW. However, France recorded the largest growth, adding 1.5GW. Germany remains the largest market with 16.1GW added, followed by Spain (9.3GW) and Italy (6.4GW).

Walburga Hemetsberger, CEO of SPE, called the report a “yellow card” for European policymakers, warning that slowing solar deployment jeopardizes energy security and climate goals. To meet the 2030 target of 750GW, Europe must install 70GW annually—far above the current pace.

Looking ahead, SPE predicts modest single-digit growth of 3-7% annually through 2028, potentially reaching 816GW by 2030. However, the association cautions that Europe risks falling 100GW short if corrective actions are not taken.

RECOMMENDED
RECOMMENDED FROM THE HOME PAGE
Business

L'Oréal hits 100% renewable energy in Europe

L'Oréal has announced that, as of December 2024, all its European operations—including factories, offices, and distribution centers—are now powered entirely by renewable energy.

Industry

Europe must speed hybrid solar adoption for sustainability

Europe's energy landscape stands at a transformative crossroads, as hybrid solar technology emerges as a powerful solution, capable of significantly enhancing the efficiency, reliability, and affordability of renewable energy systems.

Industry

Ocean Winds taps Polish firm for BC-Wind

Ocean Winds, a joint venture equally owned by EDP Renováveis and Engie, has selected Polish firm Crist Offshore to deliver the offshore substation for its 500 MW BC-Wind project.

READ MORE
Green Forum  |  1 April, 2025 at 9:00 PM
Green Forum  |  1 April, 2025 at 4:00 PM