Europe Solar Energy Market Analysis & Outlook Report 2019-2029 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Nov 15, 2019--
The “Solar Energy Market in Europe - Industry Analysis & Outlook” report has been added to ResearchAndMarkets.com’s offering.
The solar energy market in Europe is comparatively more diversified than in other regions. One of the main drivers behind the solar industry growth is the rise of low cost unsubsidised solar systems combined with the carbon tax, which is making solar energy more attractive substitute to fossil fuels.
The solar market is still in a slow transition toward becoming the mainstream energy source. However, it progressed faster towards reduced dependence on traditional subsidies and government incentives. Falling costs and advances in technology are supporting demand for rooftop and ground-mounted PV systems. The EU has kept its solar PV demand growth in line to cut C02.
Germany is the market leader in Europe and has been the most active developers of solar energy through its highly attractive feed-in tariff (FIT) system. Germany’s FIT system is operated under the Renewable Energy Sources Act (EEG) and is considered as one of the best examples for promoting renewable energy technologies. Germany also plans to completely close all its remaining nuclear power plants by 2022.
In Spain, the FIT system is allowing optional incentives for sales to the wholesale electricity spot market as well as fixed incentives. Spain also plans to source 100% of its power from renewable by 2050. France, Hungary, Italy, Poland and the UK also initiated various schemes to encourage the use of solar energy at residential and commercial-scales through incentives and subsidies.
Several utility-scale plants were under development across the region including the UK’s first unsubsidised solar PV-plus-storage facility. However, in some European countries, solar projects which were under a power purchase agreement (PPA) were stopped due to strict EU policies.
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SOURCE: Research and Markets
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PUB: 11/15/2019 06:17 AM/DISC: 11/15/2019 06:17 AM