The EU's solar energy market saw a record-high 65.5 GW of new solar PV capacity in 2024. This marks a quadrupling from a decade ago, when total installations stood at just 82 GW. The rooftop solar segment led the way, contributing 38 GW of the total capacity, while utility-scale solar accounted for 27.5 GW. However, this growth came amidst a 13% decline in overall solar investments, reflecting a mix of progress and challenges in the sector.
Germany led the installations with 16.1 GW, followed by Spain’s 9.3 GW, Italy’s 6.4 GW, France’s 4.7 GW, and Poland’s 4.2 GW as the top 5 markets in 2024. However, not all countries experienced growth. The Netherlands faced the steepest decline from 4.9 GW in 2023 to 3 GW in 2024. Despite this, the Netherlands remains the leader in capacity per capita, reaching 1,467 W per inhabitant.
While the EU solar market's capacity additions improved slightly in 2024, the overall growth rate has begun to slow. Over the past five years, Europe’s electrification rate has stagnated at around 23%. This slow pace limits demand for renewable energy and keeps energy systems heavily reliant on fossil fuels. But the European Commission projects a 60% increase in electricity consumption by 2030, driven by the increasing electrification of the heating, transport, and industrial sectors.
To support energy transition, the EU introduced the Action Plan for Grids, aimed to sets out 584 billion euros of investment by 2030 to accelerate development and modernisation of electricity grids across the EU. The plan also incorporates emerging energy sources like hydrogen to pave the way for a more sustainable energy system.
According to SolarPower Europe’s mid-term forecast, while growth may slow, new installations in 2028 are expected to reach 81.5 GW, respectively. This indicates that even under the constraints of low electrification rates, the solar market has substantial room for expansion in the coming years. From the infographic, it is evident that despite variations in national market performance, rooftop PV is becoming the driving force of Europe’s solar growth. With rooftop solar accounting for more than half of new capacity, its importance to the overall market continues to grow.
In this context, the importance of the rooftop solar market is more evident than ever. For households, commercial facilities, and agricultural applications, rooftop solar is a crucial pathway to achieving energy independence and sustainability. Furthermore, with the rising adoption of electric vehicles and increasing electrification demands, carport solutions integrated with solar systems are rapidly gaining traction.
AESOLAR has been deeply engaged in this segment, offering high-performance and durable rooftop PV modules as well as innovative carport solutions. For example, the Horizon series carport modules not only deliver higher efficiency but also have great performance in weather resistance and impact durability, meeting the diverse needs of rooftop and carport applications. These solutions enable users to maximize the use of limited space while advancing the green transformation of energy systems.