Latest news with #SolarPower Europe
Yahoo
5 days ago
- Business
- Yahoo
EU faces first solar energy growth dip in a decade
The European Union (EU) is expected to experience its first annual downturn in solar energy expansion in a decade, according to SolarPower Europe's 2025 mid-year analysis. This anticipated decrease comes as some member states reduce subsidies for rooftop solar installations, reflecting a shift in political priorities amid economic pressures. According to SolarPower Europe report, the EU's projected new solar capacity for 2025 stands at 64.2GW, marking a slight drop of 1.4% from the previous year's installation of 65.1GW. The anticipated year-on-year decline would represent the first slowdown in the growth of Europe's solar market since 2015, potentially hindering the region's rapid transition to clean energy. In 2023, solar capacity growth surged by 51%, following a more modest increase of just 3% the previous year. Reuters reported that in the past month, solar energy accounted for 22% of the total electricity generated in the EU, making it the largest single source of power generation for that period. However, current deployment rates suggest that by 2030, the EU will miss its target by approximately 27GW out of the necessary 750GW for meeting climate objectives and reducing dependence on Russian energy sources. A factor behind this shortfall is due to fewer residential rooftop panel installations, which are expected only to account for 15% of new capacity this year, a reduction from their 30% share between 2020 and 2023. Countries such as Germany and France have begun scaling back feed-in tariff payments for rooftop systems; similarly, support measures are being cut in the Netherlands for households exporting surplus power back into the grid system. SolarPower Europe deputy CEO Dries Acke said: 'The number may seem small, but the symbolism is big. Market decline, right when solar is meant to be accelerating, deserves EU leaders' attention. "Europe needs competitive electricity, energy security, and climate solutions. Solar delivers on all of those needs. Now policymakers must deliver the electrification, flexibility and energy storage frameworks that will drive solar success through the rest of the decade.' "EU faces first solar energy growth dip in a decade" was originally created and published by Energy Monitor, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Reuters
6 days ago
- Business
- Reuters
EU solar energy rollout slows for first time in decade as subsidies cut
BRUSSELS, July 24 (Reuters) - The European Union's expansion of solar energy is on track for its first annual slowdown in more than a decade, industry data showed on Thursday, as some governments reduce subsidies for rooftop solar panels. The trend reflects shifting political priorities in Europe as some member countries have scaled back green measures or support for clean energy from budgets stretched by spending on defence and local industries. The EU is on track to install 64.2 gigawatts of new solar energy capacity in 2025, a 1.4% fall from the 65.1GW installed last year, industry association SolarPower Europe said. "There's a kind of paralysis. There's still interest, but people aren't making decisions," said Peter Knuth, managing director of German photovoltaic systems installation company enerix. Early purchases in 2022 and 2023, along with rising interest rates, and economic uncertainty have contributed to the falling demand, not falling electricity prices, Knuth added. The year-on-year drop would mark the first time since 2015 that the growth of Europe's solar market has slowed - denting an area of fast progress in Europe's shift to clean energy. Solar capacity growth soared by 51% in 2023, although last year growth had already slowed to 3%. Last month, solar generated 22% of total EU electricity, making it the EU's largest single source of power generation that month. But current deployment rates now indicate the EU will fall short, by about 27GW, of the 750GW of solar capacity which SolarPower Europe said is needed by 2030 for the EU's climate targets and plans to phase out Russian energy. The main cause of the slowdown is fewer residential rooftop solar panel installations - a sector that is set to make up 15% of total new capacity this year, halving the roughly 30% share it held over 2020 to 2023. Germany and France are among the countries reducing their feed-in tariff payments for rooftop solar energy, while the Netherlands is also reducing support for households that export their excess solar power to the grid. Misleading communication regarding a law passed by the previous German government in February cancelling compensation for solar power grid during peak times along with changes to the renewable heating law had also hit demand, Knuth said. The new German government's plans to reassess the need for renewables and promises of an expansion of gas power plants are also not helping, he said. The German Economy Ministry was not immediately available to comment on the data. Asked what the German government could do to help the market, Knuth said: "Best to stay quiet. Honestly. The endless debate about renewable energy ... is counterproductive."
Emirates 24/7
6 days ago
- Business
- Emirates 24/7
EU solar energy rollout declines for first time in decade as subsidies cut
The European Union's expansion of solar energy is on track for its first annual downturn in more than a decade, industry data showed on Thursday, as some governments reduce subsidies for rooftop solar panels, Reuters reported. The trend reflects shifting political priorities in Europe as some member countries have scaled back green measures or support for clean energy from budgets stretched by spending on defence and local industries. The EU is on track to install 64.2 gigawatts of new solar energy capacity in 2025, a 1.4% decrease compared with the 65.1GW installed last year, industry association SolarPower Europe said. The drop would mark the first time since 2015 that the growth of Europe's solar market has slowed year on year, denting an area of fast progress in Europe's shift to clean energy. Solar capacity growth soared by 51% in 2023, although last year growth had already slowed to 3%. Last month, solar generated 22% of total EU electricity, making it the EU's largest single source of power generation that month. But current deployment rates now indicate the EU will fall short, by about 27GW, of the 750GW of solar capacity which SolarPower Europe said is needed by 2030 for the EU's climate targets and plans to phase out Russian energy. The main cause of the downturn is fewer residential rooftop solar panel installations - a sector that is set to make up 15% of total new capacity this year, halving the roughly 30% share it held over 2020 to 2023. Germany and France are among the countries reducing their feed-in tariff payments for rooftop solar energy, while the Netherlands is also reducing support for households that export their excess solar power to the grid.
Reuters
6 days ago
- Business
- Reuters
EU solar energy rollout declines for first time in decade as subsidies cut
BRUSSELS, July 24 (Reuters) - The European Union's expansion of solar energy is on track for its first annual downturn in more than a decade, industry data showed on Thursday, as some governments reduce subsidies for rooftop solar panels. The trend reflects shifting political priorities in Europe as some member countries have scaled back green measures or support for clean energy from budgets stretched by spending on defence and local industries. The EU is on track to install 64.2 gigawatts of new solar energy capacity in 2025, a 1.4% decrease compared with the 65.1GW installed last year, industry association SolarPower Europe said. The drop would mark the first time since 2015 that the growth of Europe's solar market has slowed year on year - denting an area of fast progress in Europe's shift to clean energy. Solar capacity growth soared by 51% in 2023, although last year growth had already slowed to 3%. Last month, solar generated 22% of total EU electricity, making it the EU's largest single source of power generation that month. But current deployment rates now indicate the EU will fall short, by about 27GW, of the 750GW of solar capacity which SolarPower Europe said is needed by 2030 for the EU's climate targets and plans to phase out Russian energy. The main cause of the downturn is fewer residential rooftop solar panel installations - a sector that is set to make up 15% of total new capacity this year, halving the roughly 30% share it held over 2020 to 2023. Germany and France are among the countries reducing their feed-in tariff payments for rooftop solar energy, while the Netherlands is also reducing support for households that export their excess solar power to the grid.
