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Solar power: Growth slows down

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Published: December 18th, 2024,
Last updated: December 23rd, 2024

At the height of the energy crisis, the photovoltaic market in the EU was still growing rapidly.

According to industry figures, the growth of photovoltaics in the EU has slowed this year and needs further political support in order to safely achieve the European expansion targets. SolarPower Europe expects 65.5 gigawatts of newly installed PV capacity by the end of the year, compared to 62.8 GW in the previous year and around 41 GW in 2022. According to the new market report for 2024-2028, growth has thus fallen from 53% to just over 4%. According to the association, this means that special effects caused by high energy prices during the energy crisis have come to a standstill.

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