european union

The European Council (EC) and Parliament have reached a provisional political agreement to raise its renewable energy share target to 42.5% by 2030.

The European Commission (EC) has announced the Net Zero Industry Act, addressing a number of technologies that can help achieve decarbonisation including solar PV.

The EU has saved €12 billion gas costs thanks to the accelerated solar and wind growth since the Russia's invasion of Ukraine in 2022, according to an analysis from climate and energy think tank Ember.

Solar investors believe that Europe can be a competitive market for PV manufacturing and compete with the US Inflation Reduction Act (IRA), as ESG and energy security concerns will drive money to the continent.

Renewables developer Fotowatio Renewable Ventures (FRV) has declared its entry into the German market, opening its first German office in Munich in December and expressing the intention to develop 2GW of solar and energy storage assets in the next four years.

Following months of discussion and encouragement from the European solar industry, the EU has announced a multi-pronged scheme to drive renewable energy and clean technology development, with the aim of putting the European market at the forefront of the global energy transition.

In early December, the Dutch government announced a €130/MWh revenue cap on solar and wind generation. The decision to lower the cap draws eyes, and potentially spells trouble for the country that installed Europe’s fourth largest solar capacity in 2022.

The EU will introduce shorter permitting times for solar and renewable energy assets in the most recent addition to its REPowerEU scheme, agreed on by the European Council this week.

The EU installed 47% more solar in 2022 than last year and is on track to double its capacity by 2026 to an expected 484GW, according to a report by industry association SolarPower Europe.