EU solar installations hit 65.5 GW in 2024
We continue to set new records in Europe within the renewable energy market, although it is true that there is a slowdown compared to last year 2023.
Solar installations grew by 4% year-on-year in the European Union in 2024, a marked drop compared to the 53% growth in 2023. The slowdown coincides with a decline in solar investment, marking the first such drop in this decade.
This data should be valued as a warning for European policymakers and system operators. Europe needs to install around 70 GW a year to meet its 2030 targets.
Despite falling capital costs, largely due to utility-scale solar projects experiencing an average cost reduction of 28% in 2024, EU solar installations are set to reach 65 GW in the coming year.
The EU solar park now totals 338 GW, a fourfold increase from 82 GW a decade ago. The market is expected to add 70 GW in 2025, reflecting a 7% growth rate driven by utility-scale projects initiated over the past two years, which benefited from record-low module prices.
Companies with advanced technological capacity to create these infrastructures, such as Mondragon Assembly, support any action that helps to foster the necessary momentum to achieve sustainability goals by 2030. But it is the role played by European institutions that is key to the growth of renewable energy infrastructures in Europe.
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