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 What is the current market situation?

Installed capacity:

  • The cumulative installed capacity of solar photovoltaic energy in Europe reaches 263 GW by the end of 2023.
  • Germany, Italy, Spain and France are the main markets.
  • Belgium should exceed 9 GW of installed power by the end of 2023, 16% of Walloon households are equipped with solar panels compared to 22% of Flemish households.

 Growth:

  • The European photovoltaic market continues to experience significant growth in 2024.
  • This growth is driven by several factors, including:
    • Lower costs
    • Increasing climate targets
    • The development of technologies
    • Rising electricity prices

Price:

  • Prices of photovoltaic modules will decrease by 2 at the end of 2023.
  • This drop in prices is due to increased production and improved technology.

Innovation:

  • Innovation continues to play an important role in the development of the photovoltaic market.
  • New technologies, such as perovskite solar cells and bifacial modules, are gaining importance.

Challenges:

  • The European PV market still faces some challenges, including:
    • The complexity of regulations
    • Lack of qualified personnel
    • Connection to the network

Perspectives:

  • The outlook for the European photovoltaic market is very positive.
  • The market growth is expected to continue in the coming years.

The European photovoltaic market continues to grow, despite a slowdown in Belgium, particularly in Wallonia. The prices of modules have fallen significantly and innovation play an important role in the development of the market.