09 May Europe reaches 100 GW solar power landmark
Europe has now installed 100 GW of grid-connected solar power according to the latest research from IHS Inc. (NYSE:IHS).
Rising from less than 3 GW of solar photovoltaic capacity in 2005, the continent surpassed the energy milestone in the second quarter of 2016.
The landmark achievement has been based on two key factors – an 80 per cent overall reduction in costs and regulatory frameworks supportive of solar as countries have acted to meet the EU’s Renewable Energy Directive.
“Just a few years ago solar was considered to be a niche alternative technology, but it is now a major element of our energy system. In fact solar power is one of the most competitive forms of energy generation in Europe today,” said Oliver Schäfer, president of SolarPower Europe.
“Europe was once the cradle of solar energy, now the rest of the world is catching up,” said James Watson, CEO of SolarPower Europe. “In the current post-feed-in tariff climate we must make sure we have the right electricity market design and the right long-term investments signals for solar to flourish. We hope that the European Commission’s forthcoming market design reform and Renewable Energy Directive will pave the way for the 200 gigawatt benchmark.”