EU Market Outlook for Solar Power: 2025 Mid-Year Analysis
6 days ago · The EU solar sector continues its upward trajectory, with mid-2025 figures confirming robust growth. SolarPower Europe''s latest analysis highlights record installations, policy
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Dec 12, 2023 · SolarPower Europe''s annual EU Market Outlook helps policy stakeholders in delivering solar PV''s immense potential to meet the EU''s 2030 renewable energy targets.
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Will the EU solar PV market grow in 2025?
The new mid-year solar PV EU market analysis from SolarPower Europe reveals that for 2025, the annual market is expected to contract for the first time since 2015, with a projected -1.4% growth in the most likely scenario. This follows the exceptional annual market expansions in 2022 (+ 47%) and 2023 (+51%), and flattened growth in 2024 (+3.3%).
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.
How has the European solar market changed in 2024?
The European solar market has grown significantly in recent years. In 2024, 65.5 GW of solar capacity was installed across the EU—a new record, though growth slowed to just 4% compared to the impressive 50% increase in 2023 and 2022. 1 This reflects a shift in the market with supply chain constraints and regional saturation impacting growth.
How much solar energy does the EU need in 2024?
In 2024, 65.5 GW of solar capacity was installed across the EU—a new record, though growth slowed to just 4% compared to the impressive 50% increase in 2023 and 2022. 1 This reflects a shift in the market with supply chain constraints and regional saturation impacting growth. Despite challenges, the need for solar energy remains strong.
Why is the PV market growing in the EU?
The PV market in the European Union (EU) has experienced remarkable growth, driven by the urgent need to transition to renewable energy and enhance energy security. Solar energy has emerged as a cornerstone of EU's strategy to achieve its climate goals and reduce dependence on fossil fuel imports.
How much solar PV does Europe need?
In order to meet the 2030 target, and deliver the continent's decarbonisation and competitiveness goals, Europe must install nearly 70 GW per year through the rest of the decade. The current trend suggests that Europe will fall short of its goals, hosting 723 GW of solar PV by 2030, compared to the required 750 GW.