The European Union’s solar energy sector has witnessed a sharp and unexpected deceleration in 2024, with the annual growth in solar PV installations plummeting by 92% compared to 2023. The region recorded an addition of approximately 66 GW, bringing total cumulative capacity to 338 GW. However, the annual growth rate declined drastically from 53% in 2023 to just 4% in 2024.
Revised Feed-in Tariffs (France, Feb–Jun 2025):
Negative electricity prices and curtailment issues reduce solar project viability. Denmark-based Better Energy has postponed 3 GW of solar projects until after 2030.
Permitting often takes 7–10+ years. EPC delays extend 12–18 months in Spain, Germany, Italy. In the UK, grid connection delays for some projects reach 10–15 years.
Since 2015, electrification in heavy industry and transport has remained stagnant, limiting renewable integration.
Contrasting the rooftop market slowdown, utility-scale projects grew by 45% in 2024, up from 17% in 2023.
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