News & Analysis

/MUNICH, June 16, 2023, 17:00 BST, RENEWABLE MARKET WATCH^TM/ Renewable Market Watch™ visited The smarter E Europe Conference and Exhibition in Munich from 13 to 16 June 2023. After three exhibition days and inspiring conferences and forums, Europe’s largest platform for the energy industry publishes a record success: 2,469 exhibitors from 57 countries showcased products and solutions across 180,000 square meters in 17 exhibition halls and an outdoor area. More than 106,000 visitors from 166 countries made their way to Munich to be part of the event this year, and with over 2,000 participants from all over the world, the conferences and side events of the 2023 edition also broke all records. This made The smarter E Europe 2023 the largest and most international event in its history to date, setting the course for a 24/7 renewable energy supply. Besides meetings with its existing customers, the Renewable Market Watch’s team also met with national solar industry associations and many new exhibitors with high-standard and novelty products such as solar PV modules, inverters, battery storage, and software service providers.

On 30 March 2023, the European Parliament and the Council reached a provisional agreement to raise the binding renewable energy target to at least 42.5% by 2030. This deal brings the EU one step closer to completing the “Fit for 55” legislation to deliver the European Green Deal and the REPowerEU objectives. The agreement raises the EU’s binding renewable target for 2030 to a minimum of 42.5%, up from the current 32% target and almost doubling the existing share of renewable energy in the EU. Negotiators also agreed that the EU would aim to reach 45% of renewables by 2030.

The agreement reaffirms the EU’s determination to gain its energy independence through a faster deployment of home-grown renewable energy, and to meet the EU’s 55% greenhouse gas emissions reduction target for 2030. A massive scaling-up and speeding-up of renewable energy across power generation, industry, buildings and transport will reduce energy prices over time and decrease the EU’s dependence on imported fossil fuels.

Permitting procedures will be easier and faster under the new law. Renewable energy will be recognised as an overriding public interest, while preserving a high level of environmental protection. In areas with high renewables potential and low environmental risks, Member States will put in place dedicated acceleration areas for renewables, with particularly short and simple permitting processes. The provisional agreement also enhances cross-border cooperation on renewables.

The agreement includes targets and measures to support the uptake of renewables across various sectors of the economy. The revised Directive strengthens annual renewables targets for the heating and cooling sector and for renewable energy used in district heating systems. It introduces a specific renewable energy benchmark of 49% for energy consumption in buildings by 2030 to complement EU buildings legislation and guide Member States’ efforts.

As a key energy-consuming sector, the industry is included for the first time in the Renewable Energy Directive. The agreement establishes indicative targets (1.6% of annual increase in renewable energy use) as well as a binding target to reach 42% of renewable hydrogen in total hydrogen consumption in industry by 2030. The agreement also reinforces the regulatory framework for renewable energy use in transport (14.5% greenhouse gas intensity reduction or 29% share of renewable energy in final energy consumption), including a combined sub-target of 5.5% for advanced biofuels and renewable fuels of non-biological origin, including a minimum level of 1% for renewable fuels of non-biological origin. These targets support the EU’s ambitions on renewable hydrogen roll-out.

The growth of the European solar power market in 2022 has exceeded all expectations. The cumulative installed solar photovoltaic (PV) capacity in Europe reached 244.3GW at the end of 2022, which is an almost 23 per cent increase compared to 198.8GW at the end of 2021. In an increasing number of countries, the cost competitiveness of solar and the reduction of feed-in tariffs, grants and other forms of direct subsidies is triggering new business models. The corporate renewable PPA boom has driven hundreds of megawatts (MWs) of new solar power capacity additions in European countries like Denmark, France, Germany, Italy, Norway, Poland, Spain, Sweden and others. Also, many countries have started tender (auction) schemes to control costs and solar power installed capacity. These tenders have played a key role in reducing solar power prices and proved their effectiveness in solar PV sector development. Several EU member states have already committed to 100% renewable power or zero-carbon targets, while the EU is pursuing a zero-emissions target by 2050.

The more information about the European solar photovoltaic power market, including full contact details of renewable project owners and developers, you may read here: Europe Solar Photovoltaic (PV) Power Market Outlook 2023 ÷ 2032

To download the executive summary brochure with sample pages, please access from here: Europe Solar Photovoltaic (PV) Power Market Outlook 2023 ÷ 2032

For a better understanding of the benefits of using our reports, you may read here: Benefit List – Reports of Renewable Market Watch – 2023

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