Sunny renaissance: European PV market growing

Munich, February 27, 2018 – The global photovoltaics (PV) market is gathering speed: 2018 is likely to see annual PV deployment pass the 100 gigawatt (GW) mark for the first time, according to the latest analysis from GTM Research. Europe in particular is witnessing a new PV boom. In 2018, experts expect deployment to exceed 10 GW for the first time in years. 

Last year the European solar market already recorded annual growth of 28 percent, based on deployment of 8.61 GW. The European market is primarily driven by tenders and power purchase agreements, where PV scores points thanks to its low cost. The advantages of solar power self-consumption are also bolstering growth. Intersolar Europe will shine a light on new developments in the PV market and the changes that are energizing it, from June 20-22, 2018 in Munich. This year, the international industry event will be taking place alongside other energy exhibitions for the first time under the umbrella of The smarter E Europe.

The European solar market is poised for a renaissance. In 2018, growth of more than 30 percent is expected - in Germany and also, in particular, in the Netherlands, Spain and France. In Spain and the Netherlands, 2018 will see deployment exceed one gigawatt for the first time. Larger PV plants with a capacity of just under 4 GW are also planned in Spain before the end of 2019. Behind these advances is the growing success of photovoltaics as an economical alternative to wind power in public tenders. Sunny days are also on the horizon for France, where solar power plants with a capacity of roughly 20 GW are to be set up by the year 2023. Alongside large PV power plants, the country also supports smaller installations and on-site consumption via public tenders.