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The report shows major growth in the solar rooftop segment, indicating that Europe's citizens and businesses have opted for low-cost solar to control their energy bills. Clean, affordable and secure energy for Europe's citizens and businesses is at the core of the European Commission's energy policy.
The EU's average solar penetration now stands at 585 W/c, compared to 466 W/c in 2022. Solar in the European Union has been traditionally dominated by rooftop applications, and the energy crises has pushed the scale turning further in that direction.
Still, in 2022, only 8% of the rooftop capacity was used for solar energy production. Latest estimates show that over 52 GWAC of rooftop potential remains largely untapped. SOURCE: VEKA. There are multiple drivers that are expected to push stable market growth for residential solar.
In our analysis, the leading 10 EU solar markets are projected to install 252 GW from 2024 to 2027 in the Medium Scenario. This represents a 6% decrease from our 2024-2027 forecasts published in June 2023 in the Global Market Outlook 2023. The Low Scenario anticipates 175 GW, while the High Scenario envisages additions of 346 GW.
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