In Europe, too, solar energy remains a key driver of the energy transition, as the latest study by the industry association SolarPower Europe shows. A new record was set in 2024: 65.5 GW of new PV capacity was installed. By 2030, a total of 816 GW of PV capacity is expected to have been installed. This corresponds to a tripling of the 2024 figure (338 GW) in just six years. This development highlights the enormous potential for investment, innovation and a renewable energy supply 24/7.
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To fully exploit this potential, solar energy needs to be intelligently integrated into the energy system: the expansion of electricity grids, the flexibilisation and digitalisation of infrastructure and a significant increase in storage capacities are essential. At the same time, the electrification of transport and heating must be accelerated. This opens up a multitude of opportunities to further advance the energy transition and shape a sustainable future.
Falling PV costs continue to drive competitiveness
Solar power generation is becoming increasingly cheaper. A key factor here is the price of photovoltaic modules. According to data from OPIS, the Dow Jones price reporting agency, in November 2024 they were in the range of 6 to 13 euro cents per watt peak (€ct/Wp) in Germany, the equivalent of around 9 €ct/Wp in China and around 27 to 28 €ct/Wp in the United States. Due to the significant reduction in this area over the years, the cost of modules as a percentage of the total system costs of a PV system has fallen to below 30 per cent – in 2005, this figure was still around 75 per cent. At the same time, inverters and balance-of-system (BOS) components have also become significantly cheaper.
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This market development, which has been ongoing for years, and economies of scale are causing the production costs for solar energy to continue to fall – this is also underlined by an analysis by the Fraunhofer Institute for Solar Energy Systems ISE. In 2024, the LCOE (Levelised Cost of Electricity) in Germany was around 4 to 7 €ct per kilowatt hour for large-scale PV systems and between around 6 and 11 €ct for large-scale systems with battery storage. Production in conventional power plants is considerably more expensive. The production costs of a kilowatt hour in coal and gas power plants were around 15 to almost 33 €ct. Nuclear energy is even more expensive and, apart from all its other disadvantages, is not economically competitive. Here, the production of a kilowatt hour costs up to 49 €ct.
Intersolar Europe – Strategists, innovators and decision-makers come together in Munich
Intersolar Europe is much more than a trade exhibition for the solar industry. It brings together manufacturers, suppliers and distributors, installers and service providers, project developers, planners and start-ups, as well as all the industry's decision-makers and thought leaders. The comprehensive and diverse supporting programme offers visitors and exhibitors space, time and opportunities for intensive exchange with key players, innovators and decision-makers from around the world. Intersolar Europe has always been focused on current market developments and overarching trends.
Also see: Start-ups set the agenda at the smarter E Europe 2025
This year's key topics will include hybrid systems, commercial PV systems, modern applications such as agricultural, floating or building-integrated PV, and smart combinations of PV, storage, e-mobility, heat pumps and energy management. In combination with the concurrent exhibitions and conferences of The smarter E Europe, it offers comprehensive insights and outlooks on the fundamental transformation of the energy world.
Intersolar Europe and the co-located exhibitions ees Europe, Power2Drive Europe and EM-Power Europe will take place from May 7–9, 2025 at Messe München as part of The The smarter E Europe, Europe's largest exhibition alliance for the energy industry. (hcn)
