EU solar panel demand

What is the global demand for solar panels?

InfoLink estimates that global module demand will come in at 470-529 GW this year, of which Europe contributes 82-93 GW, accounting for 18% of the market share, retaining the world’s second largest solar market. Gradual decreases in the traditional energy prices this year impacted the public’s willingness to install distributed generation systems.

Does Europe have a long-term demand for solar?

The long-term demand still hinges on the government’s policy design. For now, related policies and subsidies for stimulating market are still under discussion in Europe. The EU has been the major driver behind Europe’s solar market development.

How big is the Europe solar PV market?

The Europe solar PV market size crossed USD 63.1 billion in 2024 and is set to register at a CAGR of 7.1% from 2025 to 2034, due to the growing focus on green energy and net zero initiatives.

Is the EU ready for solar energy?

The EU has long been a front-runner in the roll-out of solar energy. Under the European Green Deal and the REPowerEU plan, solar power is a building block of the EU’s transition to cleaner energy. Its accelerated deployment contributes to reducing the EU’s dependence on imported fossil fuels.

Will the European solar PV market continue to grow?

The European solar PV market is poised for continued growth, but the explosive expansion driven by the energy crisis is now subsided. In the coming four years, growth is expected to stabilise at a more moderate annual rate of 3% to 7%.

Is Europe ready for a solar market?

For now, related policies and subsidies for stimulating market are still under discussion in Europe. The EU has been the major driver behind Europe’s solar market development. The European Commission first introduced the European Green Deal in 2019, pleading to achieve net-zero emissions by 2050 and the climate neutrality goal.