According to SolarPower Europe (SPE), nearly 40GW of solar photovoltaic projects will be rolled out across Europe by the end of 2022, setting a new record for development installations, as the continent races to develop renewable energy projects to escape the influence of Russian gas.
Over 39GW of solar PV is expected to jump from 27GW last year. The previous figure of 27GW was itself a decade-old record.
European governments have been working to accelerate the development of renewable energy as a means of reducing reliance on Russian energy imports after Russia cut natural gas supplies and the subsequent rise in energy prices.
On May 18, the European Union announced the latest EU solar strategy, as part of the overall EU REPowerEU plan, which aims to achieve 400GW of solar photovoltaic power generation by 2025 and nearly 740GW of solar photovoltaic power generation by 2030.
The European Commission (EC) describes solar PV as "the main pillar of this effort". However, Wood Mackenzie analysts recently warned that the technology's contribution is in jeopardy due to high raw material costs, logistical challenges and rising component prices.
