The European solar power market is expected to grow at a compound annual growth rate (CAGR) of 23.3 percent in 2018 compared to the previous year, according to consultancy Research And Markets’ report »European Solar Power Market, Forecast to 2025«.
Following a significant drop in capacity addition in 2016, the European solar PV industry staged a recovery in 2017 by adding 8.6 GW solar capacity. The region is expected to add 16.5 GW by 2025 and grow at a CAGR of 8.4 percent. The European solar market generated 9.64 billion in 2017. It is expected to perform well in 2018 and generate revenue of 11.7 billion.
»Continuing declines in solar PV costs, re-modelled support schemes and regulations, and energy storage alternatives are the key drivers for the market.« Self-funding, power purchase agreements (PPAs) and leasing will remain the main financing models in EU countries. New business models such as on-site direct wire mini PPAs will be used to overcome regulatory barriers, says the study.