Germany to lead EU solar PV expansion in 2024 – consultancy

Solar power is set to lead renewable power expansion both in terms of capacity and generation in Europe in 2024, with Germany set to install more solar capacity than any other country, according to energy market analyst Rystad Energy. 2023 was already a record year for Germany, as 14 gigawatts (GW) were installed out of 60 GW across the whole of Europe. More than 70 percent of the added capacity was from rooftop installations, with homeowners responsible for 6.5 GW of the new installations, according to the consultancy's figures. Moreover, a Yougov poll found that 68 percent of homeowners with suitable roof space said they wanted to purchase a solar energy system, with 16 percent planning to do so in 2024, business daily Handelsblatt reported.

Rystad Energy expects solar power to lead the growth in renewables both in terms of capacity and generation. "As the demand for power in Europe is only growing slightly, we can conclude that Europe is fulfilling its electricity demand growth entirely with renewable sources," Rystad Energy'sVegard Wiik Vollset said. Earlier this week, the Council of German State Governments (Bundesrat) called for special support for solar manufacturers in Germany or the European Union to strengthen the domestic industry. The EU is considering introducing quotas for domestic solar production. By 2030, Germany aims to triple its solar power capacity.