Solar Capacity in Europe to Double by 2027, Germany and Romania Spearhead Solar PV Expansion

A new analysis from Ibcentre, based on SolarPower Europe’s data, projects a significant leap in Europe's solar photovoltaic capacity by 2027, with Germany setting the pace for the continent's green energy transition.

Germany's solar capacity, already standing at 82.1 gigawatts (GW) in 2023, is expected to nearly double to 158.6 GW by 2027, showcasing an 18% compound annual growth rate (CAGR). This growth trajectory is supported by Germany's robust policy environment favoring solar energy.

Romania emerges as the market with the highest growth rate in the EU, boasting a 41% CAGR. Starting from a base of 2.9 GW in 2023, the country's solar capacity is forecasted to jump to 11.7 GW by 2027, driven by strong policy support and alignment with EU-wide environmental targets.

Spain and Greece also highlight significant growth opportunities, with projected CAGRs of 23% and 26%, respectively. These countries benefit from conducive climatic conditions for solar power and supportive political frameworks.

Despite a neutral policy stance, France is on course for a steady growth in solar capacity, with a 20% CAGR. Similarly, Sweden's solar sector is expected to grow at a 30% CAGR, signaling the country's commitment to overcoming its geographic challenges and investing in renewable energy.

Belgium, with the lowest projected growth rate among the top markets at a 14% CAGR, indicates a more cautious approach to expanding solar capacity amidst a neutral political climate.

Source: Ibcentre