Solar power generation in Europe is projected to surge by approximately 50 terawatt-hours (TWh) in 2024, surpassing all other generation sources, following a record 60 gigawatts direct current (GW DC) of photovoltaic (PV) installations in 2023, according to Rystad Energy's analysis released on Monday.
Germany, which added 14 GW DC in solar capacity last year, including 6.5 GW DC of rooftop PV systems for residential use, is set to lead the solar expansion in 2024. This year is also anticipated to witness an improvement in solar radiation conditions.
Rystad Energy notes that solar will take the lead in growth for the first time in 2024, both in terms of capacity and generation. While wind power generation is also expected to increase in 2024, it will fall short of the 50 TWh rise seen in the previous year. The projection for 2024 indicates a wind generation increase of 38 TWh.
The report highlights a more stable output from nuclear generation, while fossil generation is anticipated to continue decreasing, albeit at a slower rate than observed in 2023, with a forecasted decline of 60 TWh.
