Europe Solar Panel Market and Forecast to 2030

Apelo Consulting has released a report on “Europe Solar Panel Market (By Technology, Connectivity, Installation, Application, and Country Analysis), Company Profiles and Market Dynamics - Forecast to 2030”.

Transcript

1. Europe Solar Panel Market USD 63.10B → USD 95.44B ~7.1% CAGR 2024–2030 Outlook and Strategic Insights Energy security • Decarbonization • Policy support • Technology innovation Apelo Consulting 1
2. Apelo Consulting | Page 2 Market Overview & Growth Europe Solar Panel Market | 2024-2030 Market Size USD 63.10B(2024) → USD 95.44B(2030) Compound Annual Growth Rate (CAGR): ~7.1% Growth Drivers EU carbon-neutrality and energy-security agendas Modularity, scalability, and declining PV costs Volatile fossil-fuel markets accelerating adoption Strong policy stack: EU Green Deal, RePowerEU, RED III Growth Drivers EU carbon-neutrality and energy-security agendas Modularity, scalability, and declining PV costs Volatile fossil-fuel markets accelerating adoption Strong policy stack: EU Green Deal, RePowerEU, RED III
3. Superior efficiency (20-22%) and long-term durability (25+ year lifespan) Broad applicability from utility-scale installations to residential rooftops Ongoing efficiency gains through bifacial and TOPCon technologies Established manufacturing ecosystem and supply chains across Europe Robust performance in varied European climatic conditions Growing adoption via BIPV (Building Integrated Photovoltaics) applications Urban solar mandates driving innovation in flexible and lightweight designs Improved product efficiencies making thin film more competitive Ideal for facades, curved surfaces, and weight- restricted structures Better performance in diffused light and high- temperature conditions Technology Segmentation: Crystalline vs Thin Film Europe Solar Panel Market | 2024-2030 Segment Leader Dominates the European market with proven reliability and widespread adoption Apelo Consulting | Page 3 Crystalline Silicon Emerging Segment Gaining traction with specialized applications and aesthetic requirements Thin Film
4. Seamless grid integration with smart meters and advanced inverters Attractive to institutional investors due to predictable revenue models Enhanced reliability through bidirectional energy flows Expanding in telecom towers and remote healthcare facilities Increasing adoption in off-grid homes and agricultural operations Energy independence in regions with unreliable grid infrastructure Vital for achieving Europe's ambitious climate targets Benefiting from supportive policies and technological advances Enables large-scale investments and evolving market mechanisms Connectivity & Installation Europe Solar Panel Market | 2024-2030 Dominant Segment (2024) Apelo Consulting | Page 4 On-Grid Growing Specialized Segment Off-Grid Utility-Scale Backbone Ground-mounted Distributed Generation Key growth segment for C&I and residential applications Supports energy resilience and self-consumption Utilizes existing building infrastructure without land requirements Rooftop Connectivity Types Installation Types
5. Application Segments Europe Solar Panel Market | 2024-2030 Leads in installed capacity and investment Large-scale solar farms built by IPPs and utilities Meeting stringent renewable energy targets Expanding grid integration capabilities Apelo Consulting | Page 5 Power Utility Growing demand for clean self-generation Rooftop incentives across EU member states Battery storage pairing increasing value Energy bill reduction and independence focus Residential Dominant growth driver in European market Rising electricity prices increasing demand Energy security priorities for businesses Corporate sustainability targets driving adoption Commercial & Industrial
6. Apelo Consulting | Page 6 Key Geographic Markets Europe Solar Panel Market | 2024-2030 Germany Market Leadership Other Key Markets Accelerating deployment through auction schemes Second highest market share in 2024; strategic goal to double solar capacity by 2030 Market leader with declining solar panel costs, battery storage expansion, and supportive regulatory environment Significant recent growth driven by supportive government policies and energy diversification initiatives United Kingdom Russia Leading in utility-scale development Rapidly expanding solar capacity Strong growth in residential and C&I sectors High per-capita solar penetration Strong island-based solar integration France Spain Portugal Italy Luxembourg Greece
7. Market Drivers & Opportunities Europe Solar Panel Market | 2024-2030 EU Green Deal: long-term decarbonization roadmap RePowerEU Plan: accelerating clean energy deployment Renewable Energy Directive III: higher binding targets Apelo Consulting | Page 7 Policy Momentum Bifacial panels: capturing light from both sides TOPCon technology: higher conversion efficiencies Perovskite-silicon tandems: breakthrough potential Technology Innovation Building-integrated PV (BIPV) and urban mandates Storage-coupled PV systems for 24/7 reliability Growing corporate PPA market driving adoption New Demand Pockets Reducing import dependence on fossil fuels Mitigating price volatility in energy markets Building regional resilience against supply disruptions Energy Security Smarter inverters enabling grid stability services Digital monitoring and predictive maintenance Advanced grid services supporting higher penetration System Integration European Solar PV Industry Alliance bolstering capacity Regional supply chain development initiatives Resilience strategies reducing external dependencies Manufacturing & Supply Chain
8. Key Industry Players Europe Solar Panel Market | 2024-2030 Apelo Consulting | Page 8 Canadian Solar, Inc. Vertically integrated manufacturer with extensive European operations JA Solar Technology Co., Ltd. High-performance cell and module producer with growing EU presence LG Electronics, Inc. Premium segment focused with high-efficiency residential solutions Emeren Group Ltd. Trina Solar Co., Ltd. Project developer focused on European utility and C&I segments Pioneering TOPCon and HJT technology with European facilities First Solar, Inc. Leading thin-film PV manufacturer with advanced CdTe technology JinkoSolar Holding Co., Ltd. Large-scale module producer with high-efficiency N-type products World's largest monocrystalline silicon wafer producer LONGi Green Energy Technology Co., Ltd. Shunfeng International Clean Energy Ltd. Integrated clean energy provider with solar manufacturing Vikram Solar Limited Expanding international player with growing European operations Leading Companies The European solar panel market is dominated by these global manufacturers who drive innovation, efficiency, and market growth.
9. Apelo Consulting | Page 9 Policy Framework & Strategic Initiatives Europe Solar Panel Market | 2024-2030 EU Green Deal Market Enablers Grid Integration Enhanced transmission infrastructure to accommodate solar growth Smart Meters & Digitalization Advanced monitoring enabling dynamic response to grid conditions Inverter Technology Improved reliability and grid services capabilities Market Mechanisms Evolving structures supporting investment certainty Comprehensive framework driving Europe's transition to a sustainable, climate-neutral economy by 2050, with solar PV as a central pillar of the energy transformation. Long-term Decarbonization Roadmap RePowerEU Plan Initiative to rapidly reduce dependence on Russian fossil fuels by fast-tracking renewables deployment, streamlining permitting processes, and establishing ambitious solar targets. Accelerate Clean Energy Deployment Renewable Energy Directive III (RED III) Updated directive establishing increased binding renewable energy targets across EU member states, with streamlined administrative procedures for solar projects and priority grid access. Higher Binding Renewable Targets European Solar PV Industry Alliance Strategic initiative to strengthen domestic manufacturing capacity, reduce import dependence, and build supply- chain resilience across the solar PV value chain within Europe. Manufacturing & Supply Chain Resilience
10. Conclusion & 2030 Outlook Europe Solar Panel Market | 2024-2030 Market Trajectory USD 63.10B(2024) → USD 95.44B(2030) Europe on path to steady growth with ~7.1% CAGR Leadership Arenas Utility-scale buildout accelerating in Germany, UK, Spain C&I demand driven by energy prices, security needs, ESG targets Residential rooftop adoption gaining momentum with incentives What to Watch Permitting reform and grid upgrades to handle distributed generation Storage pairing and flexibility markets enhancing value proposition Commercialization of tandem/perovskite technologies pushing efficiency Progress on EU manufacturing resilience reducing supply chain risks Bottom Line A mature yet expanding market underpinned by policy support, technological innovation, and growing energy security concerns. The Europe solar panel sector represents both a climate solution and strategic economic opportunity across the value chain. Apelo Consulting | Page 10