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Europe Solar PV Market Trends

Report ID: GMI6669
Published Date: Nov 2024
Report Format: PDF

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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.

Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

The European market for solar PV was reached USD 63.1 billion in 2024 and is estimated to grow at a 7% CAGR from 2025 to 2034, driven by increased emphasis on green energy and net-zero goals.

The on-grid segment is projected to exceed USD 122 billion by 2034, due to features like advanced monitoring, remote control, and grid balancing capabilities.

The ground-mounted segment is anticipated to grow at a CAGR of over 7% through 2034, bolstered by advancements in solar panel technology and increased efficiency and durability.

The Germany solar PV module market is expected to surpass USD 49 billion by 2034, led by new regulations, mandates, and continuous improvements in building infrastructures.