Momentum in the market: photovoltaics on course for growth

Photovoltaics has been growing continuously for years globally and is now experiencing the strongest momentum ever. And the solar industry is becoming more relevant in Germany, too – and at a record rate.

Photovoltaics (PV) is booming in Europe: According to SolarPower Europe, with an annual growth of 41.4 GW (gigawatts) of newly installed capacity in 2022, the growth of the European market was 47% above the previous year (2021: 28.1 GW). For this year, the association is forecasting a growth of 50 to 68 GW in Europe.
In order to use surface areas effectively, the rapid growth of the solar industry demands innovative business models and accelerated deployment. Aside from standalone PV applications, one of the key pillars of the energy transition is sector coupling, i.e. the combination of PV, storage devices and e-mobility. With one million electric vehicles on German roads, e-mobility achieved an important milestone last year. The industry's dynamic growth is also reflected in the latest Market Overview Charging Systems.

According to euro news report that the percentage of electricity generated by solar in the energy mix, the Netherlands , Germany and Spain come out on top, with 23 %, 19% and 17 % respectively during summer 2022.

the report also noted that Greece is typically a top performer here too, recently celebrating generating 100 per cent of its electricity from renewables for the first time.Poland has increased its solar generation since 2018 by a whopping 26 times, with Finland and Hungary also rolling the renewable out at pace.