Solar installed capacity in Europe will soar to 20.4GW this year and is expected to reach a record 24.1GW in 2020.
EU member states are expected to achieve the 2020 renewable energy target, and SolarPower Europe's medium-term forecast shows this surge. The 2019-2023 Global Market Outlook Report released by the trading agency on the eve of the Intersolar Europe show in Munich shows that the global installed capacity was 128 GW in 2019. SolarWest Europe Chairman Christian Westermeier said, “The cost improvement last year was very strong, and in more and more regions, solar energy began to become the lowest cost source of electricity.”
“At the same time, new applications such as floating PV are growing rapidly, and corporate renewable energy purchase agreements have reached double-digit GW levels, and some countries have seen commercial solar markets.” The leaders Portugal and Spain have become the highlights of the European solar industry. Impressively, even though the world's three major markets—China, the US, and India—have encountered unique barriers, global growth in solar energy seems to continue.
SolarPower Europe CEO Walburga Hemetsberger said, “Last year, as emerging markets accepted the versatile, low-cost source of clean electricity from solar energy, global solar demand continues to grow.”
“In Europe, we have entered a new era of solar energy development. With the recently completed clean energy program, we have a new solar energy framework. In the next few years, our technology will flourish. We hope that EU member states can develop Ambitious solar targets ensure that their 2030 National Energy and Climate Programs implement these guidelines."