Germany's solar power installations soared by 35% year-on-year in the first four months of 2024, driven by increased demand in industrial, commercial, and ground-mounted photovoltaics, according to the solar power association BSW.
The surge in solar installations comes in the wake of Russia's invasion of Ukraine and the subsequent decline in Russian fossil fuel exports to Germany. In response, Berlin has introduced legislation to accelerate solar power expansion, in line with its goal to derive 80% of its energy from renewables by 2030 and achieve climate neutrality by 2045.
BSW reported that new solar power capacity grew by more than five gigawatts (GW) in the first third of this year. A May survey by YouGov revealed that 56% of businesses and over 60% of real estate owners in Germany are interested in investing in solar power systems, indicating strong public interest and support for renewable energy initiatives.
BSW anticipates a double-digit percentage growth in installations and solar storage capacity in 2024, aligning with government targets of reaching 19 GW of new annual capacity to achieve a total capacity of 215 GW, equivalent to 25% of Germany's domestic electricity consumption, by 2030.
