DUBLIN--(BUSINESS WIRE )--The "Europe Solar Photovoltaic Panel Market Outlook And Forecast To 2027 - Driven By Favorable Policies To Achieve Carbon Neutrality By 2050 And Integrated Market Structure Enabling Fast Projects" report has been added to ResearchAndMarkets.com's offering.
The Europe Solar Photovoltaic Panel Market is expected to witness a CAGR of above 19% over the next 5 years, owing to the rise in the demand for energy, favorable government policies and increasing incentives for the adoption of renewable energy sources in the region. Furthermore, most of the countries in Europe are either expanding/building new power plants or are shifting towards renewable sources of energy especially solar power to meet the rise in demand.
In 2021, European Commission proposed a new regulatory framework 'Fit for 55' to reduce Greenhouse Gases (GHG) by 55% by 2030 and achieve climate neutrality by 2050. The region also focuses on achieving the terms of the Paris Agreement which states to limit global warming to 1.5 degrees Celsius as compared to the pre-industrial level.
With the signing of this agreement, the countries resolve to reduce greenhouse gas emissions by scaling up the use of renewable energy such as solar energy. Some of the additional drivers that will lead to the growth of solar panels include proposal by the European Commission for 40% renewable energy usage by 2030. The European Solar market is also driven by a net-metering system that uses a discount mechanism to balance the annual energy that was delivered and purchased. The solar PV installed in Europe grew from 10 GW in 2018 to in 17 GW 2019 such measures.
Land accessibility is one of the major challenges in the Europe solar photovoltaic market. The difficulties are faced in accessing land for ground-mounted PV projects specifically on agricultural land. For rooftop PV panels and projects, the major challenge is the delays of approval both at administrative and network levels. In addition, at middle and high voltage levels due to lack of grid capacity, long delays and project non-realization are the challenges.
Key Segments Covered in Europe Solar Photovoltaic Panel Market
Europe Solar Photovoltaic Panel Market By Technology
Europe Solar Photovoltaic Panel Market By Connectivity
Europe Solar Photovoltaic Panel Market By Deployment
Europe Solar Photovoltaic Panel Market By End User Segment
Europe Solar Photovoltaic Panel Market By Geography and Major Countries
Key Topics Covered in the Report
2. Market Overview and Key Trends Impacting Growth
3. Total Europe - Market Segmentation by Technology, Historic Growth, Outlook & Forecasts
4. Total Europe - Market Segmentation by Connectivity, Historic Growth, Outlook & Forecasts
5. Total Europe - Market Segmentation by Deployment, Historic Growth, Outlook & Forecasts
6. Total Europe Market Segmentation by End User Segment, Growth, Outlook & Forecasts
7. Industry/Competition Analysis - Competitive Landscape
9. Geographic Analysis & Major Countries Market Historic Growth, Outlook and Forecasts
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ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900