Europe was once the world's biggest solar spender, until the region's PV market fell into a structural decline after subsidies were pulled back. Now Europe is on the upswing once again — this time, with far less government spending.
As European countries embrace competitive auctions, the Old World of solar is garnering new attention. The region is expected to install 10 to 17 gigawatts per year through 2022, bringing cumulative installs from 111 gigawatts to 182 gigawatts, according to GTM Research. A good portion of that capacity won't have any direct government support.
Competitive auctions will make solar growth much more sustainable. But will it be enough to make up for the tens of gigawatts of coal and nuke plants closing throughout the region?
Tom Heggarty, a senior global solar analyst with GTM Research, joins us on The Interchange to grapple with that question. We'll put the new trends into a historical and macroeconomic context.
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Recommended reading:
- GTM Research: Europe Solar PV Market Outlook 2018
- GTM: Here Are Solar’s Next Gigawatt-Scale Markets
- GTM: Germany's Course Correction on Solar Growth
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