Reuters reported that the growth of solar power installations in Europe slowed down to only 4% by 2024 compared to double-digit increases over recent years.
This slowdown has raised concerns about the continent’s transition towards cleaner energy.
The data from the industry shows that Europe is increasing its efforts to switch to cleaner fuels. To combat climate change, the EU is planning to increase its use renewable energy rapidly.
A shift away from fossil fuels will also end Europe’s dependence on Russian fuel.
Solar power in Europe
Solar energy installations in Europe increased by 40% in 2021 and in 2022.
SolarPower Europe, citing Reuters, reported that Europe’s solar energy installments will increase by more than 50% in 2023.
The report states that 65.5 gigawatts of solar were installed this year. This is a record amount but only 4% higher than the amount installed in 2023.
SolarPower Europe CEO Walburga Hmetsberger spoke to Reuters.
Growth is slowing.
Solar panels: More capacity is needed
Reuters reported that the EU must install 70 GW new capacity each year in order to achieve its 2030 targets.
SolarPower Europe has lowered its solar energy growth forecast due to the slowdown in this year.
This central projection still calls for 816 GW installed solar capacity in 2030. This would be sufficient to achieve the goals set.
According to the report, the installed power is currently around 338 GW.
If the forecasts are lower for this year, Europe will miss its goal of increasing renewable energy.
The slowdown of solar power installations on the continent shows that the grids are not upgraded to accommodate a greater share of renewable energies.
Reuters reports that solar projects are often forced to wait for years before they can be connected to the grid. Or their energy production may even be curtailed – meaning it’s wasted – to prevent overloading a struggling grid.
Hemetsberger is quoted in this report.
Grid bottlenecks are becoming more common in Europe.
Reuters data showed that rooftop solar installations in Europe fell by almost 5 GW on an annual basis, to 12.8 GW.
SolarPower Energy stated that the reason for this is because energy prices have fallen since their peak in Europe’s energy crisis of 2022.
Solar panels are not a cheap way to reduce bills.
According to the report, investments in European solar projects fell for the first decade.
This post Solar power installations in Europe lag behind the US as fears grow about energy transition may be updated as new information becomes available
