The Market Report Covers European Renewable Energy Companies and is Segmented by Type (Hydropower, Solar, Wind, and Others) and Geography (Germany, United Kingdom, Italy, Spain, France, and Rest of Europe).

The Europe PV Market report segments the industry into Type (Thin Film, Crystalline Silicon), End User (Residential, Commercial and Industrial (including SMEs)), Deployment (Ground-Mounted, Rooftop Solar), and Geography Regional Market Analysis (Germany, United Kingdom, France, Italy, Spain, Netherlands, Belgium, Nordic, Turkey, Rest of Europe). The report provides historical trends and future forecasts for the market.

The market value of solar energy systems in Europe stood at roughly ** billion U.S. dollars in 2023 and is forecast to reach some **** billion U.S. dollars in 2031. More information about the global market for solar energy systems can be found here.

The Europe Renewable Energy Market size was valued at USD 120 Billion in 2024 and is projected to reach USD 225 Billion by 2032, growing at a CAGR of 8.1% from 2025 to 2032.

Strong Government Support and Policy Framework: The European Union’s Green Deal and Renewable Energy Directive (RED II) aim to increase renewable energy’s share in the EU’s total energy consumption to 32% by 2030. Renewable energy accounted for 22% of total EU energy consumption in 2020.

Technological Advancements and Cost Reduction: Renewable energy generation, particularly wind and solar power, has seen significant cost reductions over the past decade. Since 2010, solar photovoltaics and onshore wind electricity costs have dropped by 82% and 39%, respectively, according to the International Renewable Energy Agency (IRENA). This makes renewable energy more competitive with traditional fossil fuels, making it easier for European countries to transition to cleaner energy sources.

The Europe renewable energy market reached 2455.00 Gigawatt in 2024. The market is expected to grow at a CAGR of 7.60% during the forecast period of 2025-2034 to reach 5107.10 Gigawatt by 2034. Expansion of flexible grid interconnections across Europe is boosting renewable integration, allowing cross-border energy flows and improving system resilience while simultaneously lowering volatility in wholesale electricity markets.

Europe stands at the front line of the global shift toward renewable power, largely powered by its aggressive climate policies and remarkable auction-driven project pipeline. A key driving factor shaping the market’s growth is the EU’s 2030 framework, which requires member states to reach at least 42.5% renewable share in final energy use. According to the Europe renewable energy market analysis, in 2024 alone, renewables accounted for 47% of electricity generation, with Denmark reporting 88.4% from renewables. These milestones showcase how ambitious policies and government-backed targets shape confidence while also driving large-scale private investment.

Moreover, the ability to turn regulatory frameworks into concrete capacity growth makes the region unique. For example, in April 2025, the EU allocated EUR 52 million in 2024 for cross-border renewable projects in Finland and Estonia, expected to add 445 MW by 2028. Similarly, corporate PPAs surged, with businesses contracting 19 GW of renewable power in 2024, proving that private players are equally serious about decarbonization, reshaping the Europe renewable energy market dynamics. These developments highlight a balanced system where both policy-makers and industries are pushing for cleaner grids.

East Europe Renewable Energy Market is segmented by Type (Hydropower, Solar, and Others) and Geography (Russia, Poland, Ukraine, and Others). The report offers the market size and forecasts in installed capacity (GW).

Europe's Solar Energy market USD 28635.4 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.0% from 2024 to 2031. Europe has seen significant investment in solar energy projects, including large-scale solar farms and residential solar installations, expected to aid sales to USD 42125.9 million by 2031.

The solar photovoltaic power capacity installed across the European Union grew from *** gigawatts in 2021 to *** gigawatts in 2024. By 2030, solar PV capacity is expected to continue increasing, reaching roughly *** gigawatts.

In Europe Solar Energy Market , was valued at approximately USD 10.11 billion in 2022 and is projected to reach USD 12.45 billion by 2029,

The West European renewable market is segmented by type (solar, wind, bioenergy, and other types) and geography (the United Kingdom, Germany, France, Ireland, and the rest of West Europe). The report offers market size and forecasts in installed capacity (GW) for all the above segments.

Germany is expected to reach a solar PV capacity of over *** gigawatts in 2028, leading the solar market in the European Union. Spain is forecast to rank second with a total capacity of ** gigawatts of solar by 2028. In 2023, Germany was also the country with the highest solar capacity in the EU. In total, the region had a solar PV capacity of *** gigawatts. Expansion of solar energy across the EU Overall, the EU is forecast to install between **** and **** gigawatts of solar power annually between 2025 and 2028, according to a medium growth scenario. This projection reflects the rapid growth of solar power across the EU, as the bloc aims to significantly increase its renewable energy production in the coming years. In terms of solar electricity production, forecasts point to a generation of approximately *** terawatt hours, more than doubling the amount produced in 2023. Economic impact and job creation The solar industry is not only contributing to the EU's energy transition, but also creating substantial employment opportunities and revenue. In 2023, the solar PV workforce in the European Union comprised ******* positions. This number is forecast to grow significantly, potentially reaching over *********** jobs by 2028 under a medium growth scenario. This expansion in the workforce reflects the sector's economic importance and its role in driving sustainable development across the EU.

According to Cognitive Market Research, the global Solar Energy market size was USD 95451.6 million in 2024. It will expand at a compound annual growth rate (CAGR) of 6.50% from 2024 to 2031.

North America held the major market share for more than 40% of the global revenue with a market size of USD 38180.6 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.7% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 28635.4 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 21953.8 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.5% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 4772.5 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.9% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 1909.0 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.2% from 2024 to 2031.
The Photovoltaic Systems Technology held the highest Solar Energy market revenue share in 2024.

Market Dynamics of Soloar Energy Market

Key Drivers of Soloar Energy Market

Increase in energy demand to Increase the Demand Globally: The growth of the global solar energy market is primarily driven by the increasing energy demand due to a surge in population. As the global population continues to rise, especially in developing countries, the energy demand grows proportionally. Urbanization is also accelerating, with more people moving to cities, leading to greater energy needs across residential, commercial, and industrial sectors. This rising energy demand is coupled with a growing emphasis on sustainable solutions due to environmental concerns.

Countries Aiming to Achieve Green Energy Targets to Propel Market Growth: A global energy transition is urgently required to limit the increase in average global surface temperature to below 2°C. Consequently, the installation of renewable energy sources is expected to grow significantly in the coming years, driving market expansion. The shift from fossil fuels to low-carbon solutions will be crucial, as energy-related carbon dioxide emissions account for two-thirds of all greenhouse gases. Government initiatives and new energy targets aimed at promoting sustainable energy have positively influenced market growth.

Key Restraint of Soloar Energy Market

High Investment and Lack of Infrastructure to Limit the Sales: The overall cost of solar PV systems is higher than that of traditional solar panels, which may limit their adoption in residential buildings with comparatively lower energy needs. For instance, installing 15 ground-mounted solar panels with a capacity of 300 watts each would cost approximately USD 14,625, with an additional USD 500 per panel for the mounting structure. This higher initial cost can lead to reduced utilization of solar power generation systems. Additionally, inadequate infrastructure further restricts investments in the market.

Trends in Soloar Energy Market

Rapid Adoption of Floating Solar (Floatovoltaics): With limited land availability and rising energy demand, floating solar farms are gaining traction—especially in countries like China, India, and Japan. These systems are installed on lakes, reservoirs, and irrigation ponds, reducing land use while benefiting from natural cooling that boosts efficiency. They also help diminish water evaporation and algae growth, offering both energy and environmental advantages. As deployment costs decline and performance improves, floating solar is emerging as a fast-growing segment of utility-scale solar energy.

Integration of Solar + Storage and Energy-as-a-Service Models: The solar sector is shifting toward integrated solutions that pair photovoltaic systems with battery storage and smart energy management services. This enables consumers and businesses to optimize energy use, store excess production, and gain grid independence. Energy-as-a-Service (EaaS) models—where solar-plus-storage setups are offered on a subscription basis—are becoming popular in commercial and industrial markets. These models reduce upfront costs and simplify system adoption, accelerating distributed solar...

Europe Renewable Energy Market valued at USD 145 billion, driven by investments, policies, and tech in solar and wind. Aiming for 42.5% renewable energy by 2030, with growth in key segments like bioenergy and hydropower.

Discover the booming residential solar energy market! Our comprehensive analysis reveals a 6.69% CAGR, key drivers, regional breakdowns (US, China, Europe), top companies, and future trends through 2033. Learn how to capitalize on this growing sector. Recent developments include: April 2024: The German government released a new rooftop solar tender seeking 258MW of PV capacity. The maximum bid price is expected to be EUR 0.105/kWh (USD 0.113/kWh)., February 2024: The Indian government approved a USD 9 billion plan to add solar panels to 10 million homes, boosting a laggard industry in the country's transition efforts., March 2023: North Carolina regulators issued an order to strengthen the state’s solar market by approving a three-year glide path for solar customers to transition from monthly credits to a more dynamic time-of-use rate structure that incentivizes the use of solar when it is most valuable.. Key drivers for this market are: 4., Favorable Government Policies4.; Reduced Cost of Solar Energy Systems. Potential restraints include: 4., Favorable Government Policies4.; Reduced Cost of Solar Energy Systems. Notable trends are: Increasing Rooftop Solar Installations to Drive the Market.

South Europe Renewable Energy Market is segmented by Type (Hydropower, Solar, Wind, and Others) and Geography (Italy, Spain, Portugal, and Others). The report offers the market size and forecasts for the renewable energy market in Installed Capacity (in GW) in all the above segments.

The size of the Europe Solar Photovoltaic (PV) Market was valued at USD XX Million in 2023 and is projected to reach USD XXX Million by 2032, with an expected CAGR of 12.30% during the forecast period. Recent developments include: March 2024, EDP Renováveis, the fourth-largest renewable energy producer globally, initiated operations at a 202-megawatt (MW) solar energy park in central Portugal, marking its largest installation in Europe. This venture is overseen by its parent company, EDP. Named the Cerca project and situated in the municipalities of Alenquer and Azambuja, north of Lisbon, it features over 310,000 solar panels. With an anticipated annual output of 330 gigawatt-hours (GWh), the facility can power approximately 100,000 households, equivalent to around 1% of Portugal's population., September 2023: the United Kingdom government announced the results of its latest renewable energy auction. Around 56 solar projects with a total capacity of 1,927.68 MW secured 15-year CfDs at a final price of USD 57/MW., February 2023: A German renewable energy project developed by RWE and Greek state-owned utility PPC announced that it reached an agreement to establish a 450 MW solar photovoltaic project in Greece through a joint venture company, Meton Energy. Construction will begin soon and is expected to come online by the end of 2024. Meton Energy has also signed a 10-year bilateral power purchase agreement (PPA) with PPC post-project completion.. Key drivers for this market are: 4., Rising Demand for Electricity across the Region 4.; Increasing Investments on Solar Energy Projects. Potential restraints include: 4., Rising Emphasis on Natural Gas Power Generation. Notable trends are: The Rooftop Segment Anticipated to Witness Significant Market Growth.

The South European renewable energy market, encompassing Italy, Spain, Portugal, and other smaller nations, presents a robust investment opportunity, driven by stringent climate targets, increasing energy independence needs, and supportive government policies. With a current market size exceeding €X billion (estimated based on common market sizes and the provided CAGR), the sector exhibits a Compound Annual Growth Rate (CAGR) exceeding 6%, projecting significant expansion through 2033. Hydropower, solar, and wind power constitute the major segments, with solar experiencing particularly rapid growth due to decreasing costs and technological advancements. While existing infrastructure limitations and intermittent renewable energy sources present challenges, strategic investments in grid modernization and energy storage solutions are mitigating these restraints. Key players like Enel Green Power, Acciona, and EDP are actively shaping the market landscape through large-scale projects and technological innovation, attracting further investment and competition. The market's growth is further propelled by the European Union's ambitious renewable energy targets, pushing member states to accelerate their transition away from fossil fuels. This initiative translates into substantial government funding, subsidies, and tax incentives, making renewable energy projects financially attractive. While the "Others" segment within both type and geography categories indicates a substantial untapped potential, further research is needed to accurately quantify its contribution. However, the overall positive market outlook suggests a continued upward trajectory for the South European renewable energy market, driven by both policy and economic incentives and supported by a diverse and growing number of established and emerging players. Geographic variations in resource availability and regulatory frameworks will likely influence the future market share distribution across Italy, Spain, and Portugal. Recent developments include: December 2022: Siemens Gamesa and Capital Energy signed a new contract to build a 52-MW wind power plant in Spain. Siemens will provide 10 SG 5.0-145 wind turbines and maintenance of the wind turbines for 20 years. The project is expected to provide green energy to 41,000 homes and prevent the emission of 140,000 tons of CO2., December 2022: Iberdrola, a global leader in renewable energy, announced its investment of more than USD 2 billion to strengthen the clean energy transition in Europe. The finance will help from Iberdrola will significantly help Portugal to install Solar, Wind, and Storage projects.. Notable trends are: Wind Energy to Dominate the Market.

The European single-axis solar tracker market is experiencing robust growth, fueled by the region's increasing commitment to renewable energy and the declining cost of solar photovoltaic (PV) systems. With a Compound Annual Growth Rate (CAGR) exceeding 8% from 2019 to 2024, and projected to continue this trajectory through 2033, the market presents significant opportunities for manufacturers, installers, and investors. Several key drivers contribute to this expansion. Firstly, supportive government policies and incentives, including feed-in tariffs and renewable energy mandates, are stimulating solar power adoption across Europe. Secondly, the decreasing cost of solar trackers themselves, alongside improvements in efficiency and durability, make them increasingly cost-effective compared to fixed-tilt systems. Thirdly, growing demand for larger-scale solar power plants, requiring efficient land utilization and optimal energy production, is driving adoption of single-axis trackers which maximize solar energy capture. However, the market faces challenges, including potential supply chain disruptions, fluctuations in raw material prices, and the ongoing need for grid infrastructure upgrades to handle the influx of renewable energy. Nevertheless, the long-term outlook for the European single-axis solar tracker market remains positive, with substantial growth expected across major economies such as Germany, the United Kingdom, France, and Spain. These countries are leading the charge in renewable energy deployment, and their increased demand is further propelling the sector. Segment analysis reveals strong growth across production, consumption, and international trade. The manufacturing base is becoming more diversified, with both established players and new entrants vying for market share. Consumption is largely driven by utility-scale solar projects, with increasing contributions from commercial and residential installations. Import and export dynamics are shaped by manufacturing capabilities within Europe and the global supply chain. Price trends indicate a gradual decline in the cost of solar trackers, enhancing their affordability and competitiveness. While specific market size figures are not provided, based on the stated CAGR of >8% and a typical market size for similar regions, we can reasonably estimate a significant value, potentially reaching several billion euros by 2033. Competitive landscape analysis showcases prominent players such as Soltec Power Holdings SA, Arctech Solar Holding Co Ltd, and Nextracker Inc, amongst others, actively competing to provide innovative and cost-effective solutions. Recent developments include: August 2022: Arctech, a global provider of tracking, racking, and buildings-integrated photovoltaics (BIPV), announced the launch of its latest solar tracking solution, SkyWings. The dual-row tracker is designed with bidirectional slew drives and a multi-point drive mechanism., March 2022: Nextracker launched the NX Horizon-XTR, a terrain-following, single-axis smart solar tracker that will broaden the addressable solar power market on sloped, uneven, and challenging terrain by expanding the addressable market. In the last three years, Nextracker has deployed and empirically tested the NX Horizon-XTR at a utility-scale, working closely with customers facing capital expense and construction challenges on hilly project sites. Using NX Horizon-XTR's terrain-following capabilities, grading can be reduced, steel costs can be minimized, and project risks can be decreased.. Notable trends are: Increasing Investments and Ambitious Solar Energy Targets.

The Report Covers the Top Renewable Energy Companies in North Europe and the market is segmented by Type (Wind, Hydro, Solar, and Others) and Geography (Sweden, Norway, UK, and the Rest of North Europe). The market size and forecasts are provided in installed capacity (GW).

The European Union had a cumulative solar photovoltaic capacity of ***** gigawatts as of 2024, increasing by roughly ** gigawatts in comparison with the previous year. Germany is the region’s leading country in terms of cumulative solar PV capacity, accounting for approximately ** percent of the EU's total solar PV capacity, with ** gigawatts installed as of 2024. That year, Germany also led in new installations, adding **** gigawatts of solar PV capacity, contributing significantly to the EU's total additions of **** gigawatts that year. That is roughly the same capacity added by the next two largest solar energy producers in the EU, Spain and Italy. EU’s solar manufacturing landscape The EU’s solar module manufacturing capacity has also increased in recent years, doubling from * gigawatts in 2022 to * gigawatts in 2023, highlighting the region's efforts to expand its renewable energy capabilities and reduce dependence on imported solar technology. Europe accounts for a very small share of the global solar module production, which is concentrated in China and other Asian countries. In 2023, China accounted for almost ** percent of the solar module production worldwide. Employment in the EU’s solar industry In 2023, there were roughly ******* full-time equivalent jobs across the EU’s solar value chain. The deployment segment stands out as the primary driver of employment in the region’s solar market, accounting for approximately ** percent of all jobs. With more than ******* full-time employees, this segment far outpaces other areas such as manufacturing, which employed roughly ****** people in 2023. Germany and Poland were the countries with the highest solar employment in the EU in that year.