Energymagz
No Result
View All Result
Friday, December 8, 2023
  • Login
  • Home
  • News
    • Solar
    • Wind Energy
    • Hydropower
    • Hydrogen
    • Geothermal
    • Bioenergy
    • Ocean Energy
    • Energy Storage
    • Grid
  • Region
    • Europe
    • North America
    • Asia
    • Africa
    • Middle East
    • Australia & Oceania
    • Latin America
  • Politics
  • Finance
  • Technology
  • Peoples
  • Study
  • Events
  • Jobs
Subscribe Now
Energymagz
  • Home
  • News
    • Solar
    • Wind Energy
    • Hydropower
    • Hydrogen
    • Geothermal
    • Bioenergy
    • Ocean Energy
    • Energy Storage
    • Grid
  • Region
    • Europe
    • North America
    • Asia
    • Africa
    • Middle East
    • Australia & Oceania
    • Latin America
  • Politics
  • Finance
  • Technology
  • Peoples
  • Study
  • Events
  • Jobs
No Result
View All Result
Energymagz
No Result
View All Result
Home News Solar

Europe’s Solar Capacity Set to Surge Beyond 58 GW, Outpacing Previous Installations

by Michelle Adkins
October 30, 2023
in Solar, Study
Reading Time: 2 mins read
A A
0
Eni Subsidiary Plenitude Unveils 50MW Photovoltaic Solar Farm in Kazakhstan

Illustration. (Credit: Pixabay)

152
SHARES
1.9k
VIEWS
Share on FacebookShare on Twitter

Europe is witnessing a remarkable expansion of its solar energy capacity, with cumulative installations up to October already matching the total for the previous year. According to analysis from Rystad Energy, the continent is set to add more than 58 GW (DC) of new solar panels by the end of this year, marking a 30% year-on-year increase.

Germany, after briefly conceding its top position to Spain last year, is making a comeback, with a projected 84% annual growth rate in 2023, reaching a record high of 13.5 GW of total solar photovoltaic (PV) capacity. Meanwhile, Spain faces challenges in maintaining its momentum despite its record-breaking performance in 2022.

See Also

UK and Germany Forge Energy and Climate Partnership to Advance Net Zero Goals

Renewable Energy Surges in Germany, Accounting for 60.2% of Q3 2023 Power Generation

December 8, 2023
Opdenergy Secures EUR 82.6 Million Green Financing for US Solar Projects

Audax Renovables Secures EUR 66 Million Financing for Spanish Solar Portfolio

December 8, 2023
Europe’s first self-consuming energy community in Tenerife

U.S. Adds 6.5 GW of Solar Capacity in Q3 2023, Sets Record for Annual Growth

December 8, 2023
Lhyfe and AREC Occitanie Unveil Green Hydrogen Project in French Occitanie Region

Lhyfe and AREC Occitanie Unveil Green Hydrogen Project in French Occitanie Region

December 8, 2023

Poland and the Netherlands are emerging as key markets, fueled by a surge in rooftop solar installations. These rooftop PV projects are expected to account for a substantial 70% of all newly installed solar capacity across Europe.

Vegard Wiik Vollset, Vice President and Head of EMEA Renewables Research at Rystad Energy, emphasized the transformative power of rooftop solar in reshaping Europe's renewable energy landscape, evolving from a niche market to a substantial force in altering the continent's energy mix.

In contrast to the success story of solar energy, the wind energy sector, including onshore and offshore projects, is facing challenges that could hamper its growth. Rystad Energy predicts an 11% drop in onshore wind installations in 2023 due to permitting bottlenecks and rising supply chain costs. Offshore wind capacity is expected to grow, but only by 2% because of project delays.

The RepowerEU plan, one year after its launch, has projected that the European Union will add 69 GW of combined solar and wind capacity in 2023, representing a 17% increase year-on-year. A separate report from Aurora Energy Research, released in June, suggests that Europe is on track to install 475 GW of solar power generation capacity by 2030, necessitating an investment of over EUR 145 billion ($153.4 billion).

Aurora Energy Research also predicts that solar power will become the world's largest source of power generation by 2027, accounting for 65% of worldwide renewable capacity growth in 2023.

BloombergNEF forecasts a remarkable 56% year-on-year increase in global solar installations in 2023, driven by falling solar module prices and the rapid development of photovoltaic projects, particularly in China.

According to the International Energy Agency's (IEA) World Energy Outlook, renewables will contribute 80% of new power capacity by 2030 in the stated policies scenario (STEPS), with solar PV alone representing more than half of this growth. The IEA predicts that by the end of the decade, the world could have the capacity to manufacture over 1,200 GW of solar panels annually, although the STEPS scenario anticipates only 500 GW to be deployed globally in 2030, less than half of the available module nameplate capacity.

Tags: European UnionGermanyInternational Energy AgencyPhotovoltaicReleaseREPowerEUResearchrooftop solarRystad Energysolar panelWorld Energy

Related Posts

Voltalia Sells 420MW Solar Project in Brazil to Newave Energia
Solar

Voltalia Secures Majority Stake in 60MW Mosselbanken Solar Plant in the Netherlands

by Teri Wright
December 8, 2023
Leeward Renewable Energy and Southern California Edison Sign 15-Year Power Purchase Agreement for Antelope Valley Battery
Energy Storage

Bluefield Renewable Developments Gains Approval for 49.9-MW Solar Farm and 60-MW Battery Storage in Northumberland

by David Martinez
December 8, 2023
Opdenergy Secures EUR 82.6 Million Green Financing for US Solar Projects
Finance

Audax Renovables Secures EUR 66 Million Financing for Spanish Solar Portfolio

by Teri Wright
December 8, 2023
Cubico Sustainable Investments Achieves Milestone with 135-MW Solar Farm in Mississippi
Solar

Cubico Sustainable Investments Achieves Milestone with 135-MW Solar Farm in Mississippi

by Patrick Vaughn
December 8, 2023
  • Trending
  • Comments
  • Latest
Dutch Offshore Wind Farms Stop Turbines to Allow Safe Passage for Migrating Birds

U.S. Federal Council Greenlights $1.5 Billion Offshore Wind Farm in Rhode Island

December 8, 2023
Masdar and Verbund Green Hydrogen Sign Pact for Green Hydrogen Plant in Central Spain

Masdar and Verbund Green Hydrogen Sign Pact for Green Hydrogen Plant in Central Spain

December 7, 2023
Emirates Steel Arkan, Ohmium International, and Khalifa University Collaborate to Advance Green Hydrogen in Steelmaking

Emirates Steel Arkan, Ohmium International, and Khalifa University Collaborate to Advance Green Hydrogen in Steelmaking

December 7, 2023
Solarvest Holdings Secures 11 Rooftop Solar Projects in Vietnam with 12.8MWp Capacity

GoldenPeaks Capital Secures Financing for 72MW Solar Portfolio in Poland

December 7, 2023
UK and Germany Forge Energy and Climate Partnership to Advance Net Zero Goals

Renewable Energy Surges in Germany, Accounting for 60.2% of Q3 2023 Power Generation

December 8, 2023
Voltalia Sells 420MW Solar Project in Brazil to Newave Energia

Voltalia Secures Majority Stake in 60MW Mosselbanken Solar Plant in the Netherlands

December 8, 2023
Leeward Renewable Energy and Southern California Edison Sign 15-Year Power Purchase Agreement for Antelope Valley Battery

Bluefield Renewable Developments Gains Approval for 49.9-MW Solar Farm and 60-MW Battery Storage in Northumberland

December 8, 2023
Endangered Macaw vs. Green Energy Dilemma: Wind Farm Project in Brazil Faces Controversy

Patria Investimentos to Acquire 600 MW Wind Power Assets from ContourGlobal in Brazil

December 8, 2023

Newsletter

Categories

  • Bioenergy
  • Energy Storage
  • Finance
  • Geothermal
  • Grid
  • Hydrogen
  • Hydropower
  • News
  • Ocean Energy
  • Peoples
  • Politics
  • Smart Energy
  • Solar
  • Study
  • Technology
  • Wind Energy

Site Navigation

  • Home
  • About Us
  • Privacy Policy
  • Cookie Policy
  • Advertising
  • Subscription plans
  • Contact
Energymagz

Welcome to EnergyMagz, where we strive to provide the latest and most accurate information about the ever-changing world of clean energy. Our team of passionate writers and researchers is dedicated to covering all aspects of renewable energy, including solar, wind, hydro, geothermal, and more.

© 2023 By EnergyMagz

No Result
View All Result
  • Home
  • News
    • Solar
    • Wind Energy
    • Hydropower
    • Hydrogen
    • Geothermal
    • Bioenergy
    • Ocean Energy
    • Energy Storage
    • Grid
  • Region
    • Europe
    • North America
    • Asia
    • Africa
    • Middle East
    • Australia & Oceania
    • Latin America
  • Politics
  • Finance
  • Technology
  • Peoples
  • Study
  • Events
  • Jobs

© 2023 By EnergyMagz

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In