Sunny days are on the horizon for Europe as the solar market booms. Last year saw deployment of 11.2 more gigawatts (GW) of photovoltaic power (PV) on the continent, which represents impressive growth of 21 percent over the previous year. This information comes from the latest edition of the Global Market Outlook, presented by SolarPower Europe at this year’s Intersolar Europe Conference. The outlook is just as promising for 2019. The industry association expects to see 20.4 GW of newly installed capacity this year, an increase of more than 80 percent. The most influential European solar markets in 2019 are Spain, Germany, the Netherlands, France and – for the first time – Ukraine.
24.1 GW new PV capacity expected in 2020
Looking forward to 2020, SolarPower Europe expects the Europe-wide solar market to grow by 18 percent with new PV installations adding 24.1 GW of capacity. This would surpass the current record deployment seen in 2011, when newly installed PV capacity in Europe totaled 22.5 GW. And solar power isn’t just on the rise in Europe, but worldwide. On a global scale, the association forecasts new PV capacity of around 128 GW in 2019, which would represent growth of 25 percent.
Against the backdrop of the globally booming solar market, Intersolar Europe has once again established itself as the industry’s most important event. “Great things are happening on the market, and that dynamism is reflected at the exhibition. Our members are reporting solid new deals, a great deal of confidence, and full order books. The message from Munich is unmistakable – the solar and storage industry are prepared for much more rapid expansion and ever-smarter solutions in the electricity, mobility and heating sectors for power plants of all sizes around the world,” says Carsten Körnig, CEO of the German Solar Association (BSW-Solar).
From falling costs to nonsubsidized business models
The driving forces behind this boom are many: the continuously falling cost of generating solar power, cheaper energy storage, the growing competitiveness of PV in comparison to conventional energy sources, and the importance of new subsidy-free business models for financing solar farms based on power purchase agreements (PPAs). Spain is a hotspot for PPAs in Europe. At the start of 2019, the world’s largest PPA for a solar project portfolio – at 708 MW – was signed in Spain and Portugal. BayWa r.e. sent another clear signal of growth by signing a PPA for a 175 MW solar park in Andalusia.
“Our goal is to play an active role in creating a carbon-free future based on renewable energies. From small plants to large-scale solar power stations, our solar energy division offers high-quality, affordable solutions to contribute to the global energy transition. We attended Intersolar Europe once again this year because it’s where the major players in the solar industry come together, and because only when our efforts are combined can we achieve a clean energy future,” says Matthias Taft, Board Member responsible for Energy at BayWa AG.(HCN)
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