Solar and Storage: Latest Market Surveys Show Dynamic Growth
11 Julio 2024 - 8:31AM
Business Wire
The deployment of renewable sources of energy is picking up
speed around the world. The impressive results of several market
surveys recently presented at The smarter E Europe 2024 prove this.
Photovoltaics (PV) and storage systems in particular are
experiencing dynamic growth, and the trend goes towards the
combination of the two technologies. The number of large-scale PV
power plants is growing rapidly, as is the number of residential,
commercial and industrial PV installations combined with storage
systems.
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The Global Market Outlook for Solar Power
2024-2028 highlights the dynamic growth of photovoltaics. (Graphic:
Business Wire)
SolarPower Europe’s Global Market Outlook for Solar Power
2024–2028 reports a global PV growth of 87 percent in 2023 compared
to the previous year. 447 gigawatts (GW) of capacity were
installed, which brings the total global capacity to 1.6 terawatts
(TW). To put this into perspective, only 239 GW were installed in
2022. According to the study, we are likely to exceed 2 TW of total
capacity in the course of this year, after the 1 TW mark was only
surmounted in 2022. Achieving the global goal of tripling
renewables by 2030 will require financing, digitalizing and
flexibilizing energy systems. 1 TW of PV capacity could be
installed each year from 2028.
Besides, more and more countries are becoming ‘gigawatt
countries’: from 31 in 2023, their number is likely to go up to 37
in 2024. In total, 576 gigawatts of renewable capacity were added
last year. While PV makes up by far the largest share at 78
percent, wind power accounts for 20 percent with 117 gigawatts of
total capacity. Walburga Hemetsberger, CEO of SolarPower Europe,
comments: “The world has truly entered its solar age. How far solar
can go will be determined by equitable global access to financing,
and the political will to deliver flexible energy systems fit for
the renewable reality.”
European storage market is developing dynamically
According to the European Market Outlook for Energy Storage
2024–2028 (also published by SolarPower Europe), 2023 was the year
in which Europe saw high electricity prices and the desire to
become independent. As a consequence, battery storage capacities
skyrocketed. 17.2 gigawatt hours (GWh), that is 94 percent more
than last year, were added. This development was mainly driven by
the residential sector, where 12 GWh of new capacity were
installed. But the commercial and industrial battery sector and
on-grid batteries for large-scale energy storage also showed
promising developments, adding 1.6 GWh and 3.6 GWh,
respectively.
Germany: Record growth of PV
Germany is one of the four leading countries when it comes to
solar energy use. The German Solar Association’s (BSW-Solar) study
The German PV and Battery Storage Market underlined this with
impressive figures: In 2023, added PV capacity grew by 97 percent –
the highest registered growth rate in Germany ever recorded. The
trend of combining PV systems with battery storage also continued.
In 2019, 46 percent of all residential PV systems were installed
together with battery storage systems, last year, it was 77
percent. “This trend is likely to continue as supportive
regulations are expected to be introduced in the near future,”
states David Wedepohl, Managing Director of International Affairs
at BSW-Solar. “When combined with intelligent storage systems, the
benefits for the energy system go far beyond self-consumption.”
All market surveys are available for free download via the The
smarter E Digital on-demand platform:
https://shorturl.at/IDS1y
The smarter E Europe
“Accelerating Integrated Energy Solutions“ – that’s the motto of
The smarter E Europe. Europe’s largest alliance of exhibitions for
the energy industry puts the spotlight on cross-industry solutions
for a renewable 24/7 energy supply covering electricity, heat and
transport. The smarter E Europe unites four exhibitions and will
take place from May 7–9, 2025 at Messe München.
For more information, please visit: www.TheSmarterE.de
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ressourcenmangel an der Panke GmbH Roberto Freiberger
roberto.freiberger@ressourcenmangel.de
Solar Promotion GmbH Peggy Zilay zilay@solarpromotion.com