Tuesday, February 27, 2024
HomeBusinessDemand for Solar Power Systems Booming in Germany

Demand for Solar Power Systems Booming in Germany

Demand for solar power systems in Germany is booming and is expected to grow at a double-digit rate in 2023 for the seventh year in a row, according to a forecast published by the German Solar Association (BSW) on Tuesday.

Demand for solar batteries will also continue to grow exponentially, according to the forecast, published in the run-up to the international solar and storage exhibitions Intersolar and EES Europe in Munich.

“One of the key drivers of the energy transition in recent years, in addition to the increasing number and size of solar parks being built, has been the use of PV (photovoltaic) and storage technology among private property owners,” the BSW said.

Around 159,000 photovoltaic systems for private houses alone were put into operation across Germany in the first quarter of this year, an increase of 146 percent compared to the previous year, according to the BSW.

“Almost all signs continue to point to growth: Solar power systems are inexpensive, the number of skilled technicians is on the rise, the supply situation is improving, and market barriers are increasingly being removed,” Carsten Koernig, BSW’s managing director, said.

Germany’s number one supplier of PV systems is China, providing around 87 percent of the country’s imports in 2022, according to official figures. The PV systems imported from China had a value of 3.1 billion euros (3.35 billion U.S. dollars).

Europe’s largest economy aims to reach a renewable share of 80 percent in the electricity supply by 2030. By 2045, it expects to achieve climate neutrality, five years ahead of the European Union (EU) target. (1 euro = 1.08 U.S. dollars)

RELATED ARTICLES
Continue to the category

TRANSLATE

- Advertisment -

Most Popular