Europe Solar PV Market Size – By Connectivity (On-Grid, Off-Grid), By Mounting (Ground Mounted, Rooftop), By End Use (Residential, Commercial & Industrial, Utility), 2025 – 2034

Europe Solar PV Market Size

Europe Solar PV Market was valued at USD 63.1 billion in 2024 and is estimated to grow at a CAGR of 7% from 2025 to 2034. Solar PV systems generally comprise solar panels embedded with multiple photovoltaic cells, an inverter that transforms direct current (DC) electricity into alternating current (AC) for household or industrial applications, and occasionally, energy storage solutions like batteries.
 

Many countries offer incentives for residential and commercial solar installations, including rebates, grants, or tax credits coupled with combining solar power with hydrogen production, that uses solar-generated electricity to produce hydrogen for industrial use will drive the business scenario. The price of solar PV modules has decreased significantly over the past decade, with the cost of solar power falling below grid parity in many parts of Europe, thereby increasing the market competitiveness, as both established and new players compete for market share.
 

Large scale investments in solar systems to fulfill the energy needs in countries across Germany, UK, and France among others along with expanding residential installations fueled by government incentives and declining costs of solar panels and batteries will complement the business landscape. The EU Emissions Trading Scheme (ETS) helps make solar power more cost-competitive relative to fossil fuels by putting a price on carbon emissions, influencing the product penetration.
 

Europe Solar PV Market Trends

Homeowners are increasingly investing in solar energy storage systems, driven by government incentives that offer financial benefits, which is set to boost the market growth. Additionally, rising customization of solar installations to harmonize with home architecture, along with services like monitoring and maintenance, will further bolster the market growth. Moreover, the escalating carbon emissions, coupled with the heightened interest from key players in developing high-performance energy solutions, are poised to drive the demand for these systems.
 

Europe Solar PV Market Analysis

Based on connectivity, the on grid segment is set to exceed USD 122 billion by 2034, on account of features including advanced monitoring, remote control, and grid balancing capabilities. Furthermore, ongoing R&D efforts aim to enhance the efficiency and durability of solar PV materials. Innovations, including perovskite solar cells and flexible solar panels, are also contributing to this market expansion. Additionally, rising awareness of climate change and a commitment to environmental sustainability are prompting both consumers and businesses to pursue cleaner energy sources will augment the industry landscape.
 

Based on mounting, the ground mounted segment is anticipated to grow at a CAGR of over 7% through 2034, on account of advancements in solar panel technology, marked by increased efficiency and durability, bolstering the economic feasibility of the system installations. Increasing integration of these panels with energy storage solutions, combined with a surging demand for expansive ground-mounted solar farms, is set to reshape the business landscape. Furthermore, these products not only bolster grid resilience and support vital infrastructure but also promise substantial savings on energy bills, further propelling the business scenario.
 

Germany solar PV module market is anticipated to surpass USD 49 billion by 2034. Government authorities are implementing new norms and mandates along with continuous improvements in building infrastructures are driving the business potential. Strong partnerships between the private and public sectors coupled with an increasing number of manufacturers in the region, are enhancing the business landscape. Meanwhile, the growing consumer preference for clean energy sources and the export of expertise and technology to international markets are positively impacting the industry statistics.
 

Europe Solar PV Market Share

The European solar industry includes a mix of global players and strong regional companies. The leading firms range from solar module manufacturers to project developers, EPC contractors, and operators of solar assets. It is dominated by large energy companies and developers who are constructing large solar farms. It benefits from economies of scale and is a growing market in Southern Europe and increasingly in Central and Eastern Europe. Further, Further, it is heavily influenced by national and EU-level policies and incentives aimed at decarbonizing the energy sector.
 

Europe Solar PV Market Companies

Eminent players operating in the Europe solar PV industry are:

• Canadian Solar
• CsunSolarTech
• EMMVEE SOLAR
• First Solar
• JA SOLAR Technology Co., Ltd.
• Jinko Solar
• LG Electronics
• Q CELLS
• REC Solar Holdings AS
• Renesola
• Shunfeng International Clean Energy
• Solaria Corporation
• Solar Frontier KK
• Trina Solar
• Yingli Solar
   

Europe Solar PV Industry News:

• In May 2022, CHINT Group, in partnership with solar developer Econergy, provided EPC services for the installation of a 154 MWP PV power station in Romania. Once connected to the grid, the plant is projected to supply clean energy to approximately 1 million households, curbing carbon dioxide emissions by around 160,000 tons annually. This collaboration not only aligns with Romania's new energy development goals but also underscores a commitment to advancing clean energy solutions. Through this venture, CHINT Group has further solidified its foothold in the industry.
   
• In August 2022, Cero Generation chose SUNEL GROUP and Ameresco Inc. to develop the Delfini solar PV project in Greece, boasting a capacity of 100 MWp. As part of the project, SUNEL GROUP will handle the engineering, procurement, and construction of the solar park, aligning with Greece's ambitious clean energy goals. This contract has solidified the company's foothold in the nation.
   

The Europe solar PV market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue and volume in “USD Million and MW” from 2021 to 2034, for the following segments:

Click here to Buy Section of this Report

Market, By Connectivity

• On Grid
• Off Grid

Market, By Mounting

• Ground Mounted
• Roof Top

Market, By End Use

• Residential
• Commercial & Industrial
• Utility

The above information has been provided for the following countries:

• Austria
• Norway
• Denmark
• Finland
• France
• Germany
• Italy
• Switzerland
• Spain
• Sweden
• UK
• Netherlands
• Poland
• Belgium
• Ireland
• Baltics
• Portugal