Mid-autumn solar container sector

How has 2024 changed the solar industry?

The past year has been dynamic for the European solar industry. While solar remains essential to Europe’s energy transition, 2024 brought its share of challenges. From shifts in availability to evolving markets and policy changes, it was a year of adaptation and learning for everyone in the industry.

How has the European solar market changed in 2024?

The European solar market has grown significantly in recent years. In 2024, 65.5 GW of solar capacity was installed across the EU—a new record, though growth slowed to just 4% compared to the impressive 50% increase in 2023 and 2022. 1 This reflects a shift in the market with supply chain constraints and regional saturation impacting growth.

Is solar a key pillar of the EU energy transition?

As solar has become a major pillar of the EU energy transition, it’s important to continuously feel the pulse of the EU solar sector. Our comprehensive outlook with five-year forecasts and policy insights will continue to be published at year-end.

How has the International Solar supply chain shaped European trends?

The international solar supply chain has played a crucial role in shaping European trends over the past year. In China, a reduction in export tax rebates for photovoltaic products, effective December 2024, has prompted solar manufacturers to adjust their strategies.

How will China's new tax rebates affect solar products?

In China, a reduction in export tax rebates for photovoltaic products, effective December 2024, has prompted solar manufacturers to adjust their strategies. The rebate reduction from 13% to 9% is expected to lead to a modest price increase, which may slightly impact costs for European buyers 3.