The growth in solar power installments in Europe slowed to just 4% in 2024, compared with double-digit increases in recent years, Reuters reported on Tuesday.
The slowdown in growth in these installments has significantly heightened concerns over the continent’s transition to cleaner energy.
The industry data, which showed the slowdown comes amid Europe’s increasing efforts to transition to cleaner fuels. The EU plans to rapidly increase its use of renewable energy to fight climate change.
Additionally, shifting away from fossil fuels would also mean ending Europe’s reliance on Russian fuel.
Europe’s solar power installments
The amount of solar energy installed in Europe surged by 40% on a year-on-year basis in both 2021 and 2022.
In 2023, Europe’s solar power installments rose further by over 50%, Reuters quoted data from SolarPower Europe.
This year, 65.5 gigawatts (GW) of solar was installed, a record high amount, but just 4% more than what was installed in 2023, according to the report.
SolarPower Europe CEO Walburga Hemetsberger told Reuters:
The growth is substantially slowing down.
Solar installments: more capacity required
The EU has to install 70 GW of new capacity every year to meet its 2030 goals, Reuters reported.
SolarPower Europe scaled down its growth forecast for solar power due to a slowdown this year.
The central outlook is still projected at 816 GW of installed solar capacity by 2030. This would be enough to meet the goals set.
At present, the installed capacity is around 338 GW, according to the report.
The lower forecasts for this year though would mean that Europe would be on course to miss its target of expanding renewable energy.
The slowdown in solar power installations across the continent showed that the power grids have not been upgraded to handle a larger share of renewable energy.
Solar projects often have to wait years to be connected to the grid, or their energy production is curtailed – meaning it is wasted – to avoid overwhelming a struggling grid, according to Reuters.
Hemetsberger was quoted in the report:
What we see more and more in different countries, all over Europe, is that we’re running into grid bottlenecks.
Rooftop solar installation across Europe decreased on a year-on-year basis by nearly 5 GW to 12.8 GW this year, data accessed by Reuters showed.
SolarPower Energy said that this was because of falling energy prices from the peak during Europe’s 2022 energy crisis.
This dampened the demand to buy solar panels to cut bills.
Investments in European solar projects also fell, for the first time this decade, according to the report.
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