Europe is expected to accumulate 462GW of PV installed capacity in 2028


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Europe is expected to accumulate 462GW of PV installed capacity in 2028

According to EUPD Research, the European PV market will grow from 65GW last year to 75GW this year. By 2028, the cumulative installed capacity of photovoltaic systems in Europe will reach 462GW.

A key driver will be the demand for private rooftop PV systems with an installed capacity of 10kW. According to the 295-page European Market Leadership Study published by EUPD Research, the company's analysts expect that 122GW of private rooftop PV systems will be added in Europe over the next five years. The study focuses on 13 major European PV markets, including Germany, Italy and the Netherlands.

According to the study, the market dynamics of private rooftop PV systems in Europe are currently weakening

After the outbreak of the conflict between Russia and Ukraine, the demand for private PV in Europe has increased significantly, especially due to the sharp rise in energy prices. The installed capacity of small PV systems installed in Europe has risen from 7GW in 2021 to 12GW in 2022 and finally to 18GW in 2023. This market growth is gradually slowing down, so EUPD Research expects growth of less than 10% in the coming years, resulting in 28GW of new PV system installed capacity added to the European PV market in 2028.

In view of the optimization of self-consumption of photovoltaic power generation by many home users, the deployment of energy storage systems for rooftop photovoltaic systems has become increasingly popular in recent years. EUPD Research expects the capacity of energy storage systems to grow to 14GWh this year. Markus Hohner, CEO of EUPD Research, said: "As home users struggle to offset rising electricity and gas bills, there is a growing trend for PV systems to consume themselves. Combined with the widespread adoption of electric vehicles and heat pumps, this trend creates strong synergies for home users to take advantage of PV technology."

The reports also analyze the competitive landscape of PV system installers and find that there is a clear differentiation in the European PV market, which is reflected in the differences in market maturity and adoption rates across different countries. With around 6,300 PV system installers, Germany leads Europe. This is followed by Italy and the United Kingdom, with approximately 3,100 and 2,900 PV system installers, respectively. According to EUPD Research, this figure shows that the European photovoltaic industry is developing rapidly and the market activity is high. Companies have been exploring new strategies to gain market share, such as flexible financing options, energy management solutions and dynamic tariffs to deliver returns for portfolios of photovoltaic systems, energy storage systems, wall boxes and heat pumps.

1Komma5° is ranked among the top 30 European PV system installers

EUPD Research also ranks European PV system installers based on a comprehensive survey of around 15,000 companies, as well as an informed methodology that takes into account factors such as installed PV systems and number of installations, geographical location and product portfolio diversification. The methodology involves assigning specific weights to each variable to assess the final ranking of PV system installers and determine their position in the European ranking.

1Komma5°, Enpal and Zonneplan are among EUPD Research's top 30 European PV system installers, market leaders who have installed around 280,000 PV modules and served around 100,000 customers.

1Komma5°, headquartered in Hamburg, Germany, was founded in 2021 and currently has branches in Germany, Sweden, Finland, Denmark, the Netherlands, Spain and Australia, with around 2,200 employees in 75 locations. Commenting on the results, Philipp Schroder, CEO of EUPD Research, said, "We are pleased with this ranking result and, less than three years after our inception, we clearly feel that our strategy to establish market leadership in Europe has been significantly strengthened. This is due to both our own business growth and the successful completion of new acquisitions in the short term. But what we are most proud of is undoubtedly the profitability of the company."

Project Solar UK and Soly Energy are among the top five installers of photovoltaic systems in Europe. German PV system installers Zolar, Energieversum, DZ4 and Eon and Swiss group Helion Energy also have a place in the top 30 list.

Rajan Kalsotra, Senior Consultant at EUPD Research, added: "Through extensive Research, EUPD Research has clearly ranked 30 leading PV system installers in Europe, as well as PV system installers in 13 major markets. This diverse landscape, from multinational giants to domestic players, highlights the dynamic growth and innovation prevailing in the European PV market."