EU Solar Power Growth Expected to Slow Down by 2024-25
Feb 08,2024 | DAXTROMNSOLAR
According to a recent report, solar power growth in the European Union (EU) is predicted to decelerate between 2024 and 2025. The analysis indicates that the growth rate of solar installations will drop to around 10% per year during this period, compared to the current rate of approximately 19%. This decrease is primarily attributed to the end of certain government policies and incentives, which have been instrumental in driving the expansion of solar power capacity.
The report highlights that by the end of 2024, the EU's cumulative solar power capacity is estimated to reach 482 gigawatts. However, the predicted slowdown in growth implies that the region may fall short of its target of achieving 60% renewable energy by 2030. The European Commission's climate ambition heavily relies on renewable energy sources, and the decreased growth rate may hinder the EU's progress in meeting its climate goals.
It is crucial for the EU to address this potential setback and implement additional measures to stimulate solar power growth. Encouraging further investment in renewable energy projects, enhancing financial incentives, and establishing supportive regulatory frameworks could help maintain momentum in the sector.
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