Utilities ‘changing the appearance’ of European solar

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
Email
Utilities are becoming prolific investors in European solar with the likes of Eon, RWE and Enel all either establishing or acquiring solar development arms. Credit: RWE

Big energy utilities such as Eon and innogy are “changing the appearance” of the European solar market as they wade into the sector, a panel of industry leaders has concluded.

Speaking at SolarPower Europe’s ongoing Solar Power Summit in Brussels yesterday, First Solar senior director for Europe sales Stefan Degener said that European utilities were waking up to the potential for solar to make a meaningful contribution to their energy mix.

This, Degener said, had resulted in them “changing the appearance” of the European solar market and ultimately contributing to the market becoming “more professional”.

Utilities are becoming prolific investors in European solar with the likes of Eon, RWE and Enel all either establishing or acquiring solar development arms.

Earlier this year RWE’s clean energy unit innogy splashed the cash on developer Belectric in a bid to bolt on solar expertise.

Markus Hoehner, chief executive officer at EuPD Research, said that the more widespread adoption of solar by utilities was a result of them “running out of business” and that while it might have taken a few years, they were now “beginning to understand and review strategies”.

Hoehner added that this would result in significant upside for solar manufacturers by creating a “strong sales channel” for them to tap into.

Read Next

January 28, 2022
Global investment in renewables rose to new heights in 2021 as solar and wind deployment surged, but total energy transition expenditure needs to triple in the coming years to get on track for net zero, according to new research from BloombergNEF.
January 25, 2022
The Czech Republic’s largest utility, ČEZ Group, should scale up its domestic solar PV portfolio over the next decade instead of pursuing new nuclear power plants, the Institute for Energy Economics and Financial Analysis (IEEFA) has said.
January 24, 2022
Renewables developer and operator Leeward Renewable Energy has signed power purchase agreements (PPAs) with telecom company Verizon for a portfolio of four under-development solar and wind plants in the US with a combined capacity of 640MW.
December 23, 2021
With Democrats needing to come up with revised legislation to salvage President Joe Biden’s US$1.75 trillion Build Back Better Act, renewable energy provisions should be prioritised to accelerate decarbonisation efforts, writes Jules Scully.
December 20, 2021
Elevion, the renewables arm of Czech conglomerate ČEZ Group, is targeting growth within Europe’s PV market after closing the acquisition of Belectric’s European assets.
December 9, 2021
US residential solar installer SunPower has launched a new financial services product aimed at making domestic renewables more affordable.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
February 23, 2022
London, UK
Solar Media Events
March 8, 2022
London, UK
Solar Media Events
March 23, 2022
Austin, Texas, USA
Solar Media Events
March 29, 2022
Lisbon, Portugal
Solar Media Events
April 25, 2022
Berlin, Germany