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					</table><p>The European Union (<a title="https://european-union.europa.eu/index_en" href="https://european-union.europa.eu/index_en" target="_blank" rel="noreferrer noopener">EU</a>) is projected to install 64.2 GW of new solar capacity in 2025, down from 65.1 GW in 2024, a projected 1.4% annual decline, the first since 2015, according to <a title="https://www.solarpowereurope.org/" href="https://www.solarpowereurope.org/" target="_blank" rel="noreferrer noopener">SolarPower Europe’s</a> mid-year market report. The projected decrease will be driven by the shrinking residential rooftop market.</p>
<p>This expected downturn follows sharp growth in 2022 (47%) and 2023 (51%), and stagnation in 2024 (3.3%).</p>
<p>Despite the expected slowdown, total installed solar capacity will reach 402 GW by year-end, meeting the EU’s RePowerEU 2025 target. However, the residential rooftop segment is likely to collapse by over 60% in countries like Italy, the Netherlands, Austria, Belgium, Czechia, and Hungary, while corporate PPAs have dropped 41% between the first and the second quarter (Q2), threatening future utility-scale growth.</p>
<p><a href="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/08/EU-Solar-image-1.png"><img loading="lazy" decoding="async" class="aligncenter wp-image-82852 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/08/EU-Solar-image-1.png" alt="EU Solar 1" width="5001" height="2918" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/08/EU-Solar-image-1.png 5001w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/08/EU-Solar-image-1-300x175.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/08/EU-Solar-image-1-2000x1167.png 2000w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/08/EU-Solar-image-1-768x448.png 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/08/EU-Solar-image-1-1536x896.png 1536w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/08/EU-Solar-image-1-2048x1195.png 2048w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/08/EU-Solar-image-1-650x379.png 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/08/EU-Solar-image-1-624x364.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/08/EU-Solar-image-1-600x350.png 600w" sizes="(max-width: 5001px) 100vw, 5001px" /></a></p>
<p><strong>Residential Rooftop Decline </strong></p>
<p>According to the report, the EU’s solar sector slowdown is concentrated in markets that were previously strong performers, including Italy, the Netherlands, Austria, Belgium, Czechia, and Hungary. In these countries, rooftop solar installations are expected to fall by more than 60% compared to 2023 levels.</p>
<p><a href="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/08/EU-Solar-image-2.png"><img loading="lazy" decoding="async" class="aligncenter wp-image-82853 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/08/EU-Solar-image-2.png" alt="EU Solar 2" width="5001" height="2918" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/08/EU-Solar-image-2.png 5001w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/08/EU-Solar-image-2-300x175.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/08/EU-Solar-image-2-2000x1167.png 2000w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/08/EU-Solar-image-2-768x448.png 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/08/EU-Solar-image-2-1536x896.png 1536w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/08/EU-Solar-image-2-2048x1195.png 2048w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/08/EU-Solar-image-2-650x379.png 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/08/EU-Solar-image-2-624x364.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/08/EU-Solar-image-2-600x350.png 600w" sizes="(max-width: 5001px) 100vw, 5001px" /></a></p>
<p>The decline is attributed to the easing of the 2022 energy crisis and the expiry of government support schemes, many of which have not been replaced. Even in other large markets such as Germany, Spain, and Poland, rooftop installations are expected to fall by over 40%.</p>
<p>Analysts cite policy instability, lack of replacement incentives, and lower electricity prices as contributing factors. Many households are reconsidering the return on investment from rooftop systems in the absence of subsidies, net metering benefits, or urgent price pressures.</p>
<p><a href="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/08/EU-Solar-image-3.png"><img loading="lazy" decoding="async" class="aligncenter wp-image-82854 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/08/EU-Solar-image-3.png" alt="EU Solar 3" width="5001" height="2918" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/08/EU-Solar-image-3.png 5001w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/08/EU-Solar-image-3-300x175.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/08/EU-Solar-image-3-2000x1167.png 2000w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/08/EU-Solar-image-3-768x448.png 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/08/EU-Solar-image-3-1536x896.png 1536w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/08/EU-Solar-image-3-2048x1195.png 2048w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/08/EU-Solar-image-3-650x379.png 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/08/EU-Solar-image-3-624x364.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/08/EU-Solar-image-3-600x350.png 600w" sizes="(max-width: 5001px) 100vw, 5001px" /></a></p>
<p><strong>Utility-Scale Solar Stable</strong></p>
<p>While residential installations are reducing, the utility-scale solar segment is expected to remain relatively stable in 2025, contributing around half of the new capacity additions.</p>
<p>In 2024, a record 20 GW of utility-scale solar capacity was awarded through auctions across the EU. Germany leads the region in auction activity, followed by the Netherlands, France, and Italy.</p>
<p>Poland and Ireland are also increasing their auction volumes. Notably, Germany’s most recent innovation tender attracted 158 bids totalling more than 2 GW, mostly for hybrid solar-storage systems.</p>
<p>The auction cleared at €0.05 (~$0.058)/kWh, down from €0.07 (~$0.081)/kWh in a similar October 2024 tender that awarded just 487 MW, indicating increased competition and falling costs.</p>
<p>Hybridization is playing a growing role in utility-scale deployment. Co-located battery storage or wind-solar hybrid projects are gaining preference in national tenders, particularly in Germany and Bulgaria, enabling better load management and improving solar integration into the grid.</p>
<p><strong>Corporate PPA Market</strong></p>
<p>According to the report, the corporate Power Purchase Agreement (cPPA) segment, which has been a key enabler of utility-scale solar development in recent years, is now weakening. In 2025, the volume of new solar cPPA contracts fell by 41% between Q1 and Q2.</p>
<p>The decline was driven by falling electricity prices, which made long-term solar PPAs less attractive to corporate buyers. Without additional policy support, this trend could further undermine long-term investment in utility-scale solar projects. SolarPower Europe has called for stronger frameworks to support cPPAs and ensure stable financing for solar deployment.</p>
<p>Europe’s solar PPA prices in the Market-Averaged Continental Index <a href="https://www.mercomindia.com/us-and-europe-ppa-prices-for-solar-and-wind-stable-in-q1-2025" target="_blank" rel="noopener">rose</a> by just 1% in the previous quarter, according to a report by LevelTen. Europe’s renewable energy sector has entered a pricing maturity and predictability phase.</p>
<p><a href="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/08/EU-Solar-image-4.png"><img loading="lazy" decoding="async" class="aligncenter wp-image-82855 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/08/EU-Solar-image-4.png" alt="EU Solar 4" width="5001" height="2917" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/08/EU-Solar-image-4.png 5001w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/08/EU-Solar-image-4-300x175.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/08/EU-Solar-image-4-2000x1167.png 2000w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/08/EU-Solar-image-4-768x448.png 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/08/EU-Solar-image-4-1536x896.png 1536w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/08/EU-Solar-image-4-2048x1195.png 2048w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/08/EU-Solar-image-4-650x379.png 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/08/EU-Solar-image-4-624x364.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/08/EU-Solar-image-4-600x350.png 600w" sizes="(max-width: 5001px) 100vw, 5001px" /></a></p>
<p><strong>EU Risks Falling Short of 2030 Target</strong></p>
<p>Despite achieving its 2025 RePowerEU target, reaching the 2030 goal of 750 GW remains uncertain for the EU. To stay on track, the region must install close to 70 GW of new capacity annually starting in 2026.</p>
<p>At the current rate, the EU will only reach 723 GW by 2030, falling short of the target. Dries Acke, Deputy CEO at SolarPower Europe, warned that a market decline at this critical stage is a serious concern.</p>
<p>He urged EU policymakers to act by strengthening regulatory frameworks around electrification, system flexibility, and energy storage to maintain momentum through the decade.</p>
<p>Recently, Wood Mackenzie’s Global Solar Inverter Market Share report <a href="https://www.mercomindia.com/global-solar-inverter-shipments-reach-589-gw-in-2024" target="_blank" rel="noopener">showed</a> that Europe experienced a double-digit percentage decline, especially in the residential and commercial segments. This drop was driven by excess inventory in key markets such as Germany and the Netherlands.</p>


EU Solar Market to Shrink 1.4% in 2025, First Decline Since 2015


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					</table><p>Europe’s battery energy storage market grew by 15% in 2024, according to the European Market Outlook for Battery Storage 2025-2029 report by <a href="https://www.solarpowereurope.org/" target="_blank" rel="noopener">SolarPower Europe</a>. However, the growth had slowed year-over-year (YoY).</p>
<p>The continent installed 21.9 GWh of battery energy storage systems (BESS) in 2024, achieving record installations for the eleventh consecutive year and increasing Europe’s total battery capacity to 61.1 GWh. The annual capacity installation growth rate reduced to 15% after three continuous years of doubling the newly added capacity.</p>
<p>The report said Europe’s BESS market is expected to grow faster in the coming two years, but not at the required levels. The continent is projected to install 29.7 GWh of battery storage, a 36% YoY growth. The report expects a six-fold increase in installed capacity to approximately 120 GWh by 2029, growing the total capacity to 400 GWh.</p>
<p><a href="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/05/solareurope1.png"><img loading="lazy" decoding="async" class="aligncenter wp-image-79575 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/05/solareurope1.png" alt="" width="903" height="438" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/05/solareurope1.png 903w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/05/solareurope1-300x146.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/05/solareurope1-768x373.png 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/05/solareurope1-650x315.png 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/05/solareurope1-624x303.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/05/solareurope1-600x291.png 600w" sizes="(max-width: 903px) 100vw, 903px" /></a></p>
<p>However, this growth would be considerably less than the required levels to meet Europe’s energy flexibility needs. The European Union (EU) must install a BESS capacity of 780 GWh by 2030 to fully support the renewable energy transition, according to SolarPower Europe’s Mission Solar 2040 report.</p>
<p><strong>Leading Countries</strong></p>
<p>Germany, Italy, and the UK continued to lead the European market, installing nearly 70% of the annual BESS capacity. The countries installed 6.2 GWh, 6 GWh, and 2.9 GWh capacity, respectively. Austria followed with 1.1 GWh and Sweden with 1 GWh, reaching the gigawatt-hour scale for the first time. The top five countries added 78% of the total installed capacity in Europe in 2024.</p>
<p>Germany installed the highest capacity despite reducing residential installations and decreasing large battery uptake. Italy’s residential installations also reduced. However, its large-scale segment capacity increased. The UK experienced a temporary slump because of project delays at the large-scale level. Austria and Sweden experienced considerable growth in the residential, commercial and industrial (C&amp;I) markets.</p>
<p><strong>Outlook</strong></p>
<p><a href="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/05/solareurope2.png"><img loading="lazy" decoding="async" class="aligncenter wp-image-79576 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/05/solareurope2.png" alt="" width="903" height="494" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/05/solareurope2.png 903w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/05/solareurope2-300x164.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/05/solareurope2-768x420.png 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/05/solareurope2-650x356.png 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/05/solareurope2-624x341.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/05/solareurope2-600x328.png 600w" sizes="(max-width: 903px) 100vw, 903px" /></a></p>
<p>Europe deployed 29.7 GWh of battery storage in 2025 under the medium term, expecting to help the market grow at 36% annually. This growth in 2025 would entail installing approximately half of the total operating fleet implemented in 2024.</p>
<p>The continent’s installations are projected to increase sharply in the medium scenario beyond 2025 under the current market and regulatory conditions. Annual deployments are expected to grow by 41.9 GWh or 41% in 2026 and 68 GWh or 62% in 2027.</p>
<p>Annual growth rates are expected to slow when markets mature slowly by the decade’s end. However, the report predicts continued deployment expansions, achieving 90.8 GWh in 2028 (increasing 34%) and 118 GWh in 2029 (increasing 29%). This increase would constitute an over five times growth of installation volume from 2024.</p>
<p>The report said the European utility-scale battery market would likely almost double in 2025 to compensate for the overall stagnation in the behind-the-meter (BTM) segment, which is projected to provide less than a third of the capacity by 2029.</p>
<p>Large-scale batteries provided 55% of the new capacity in Europe so far in 2025. Their contribution is expected to increase, with the share of grid-scale BESS growing to 68% of the annual additions by 2029. Large-scale batteries will deliver over 80 GWh of capacity during this year, more than five times that of 2024.</p>
<p>This segment’s growth will be driven by multiple factors, including the energy security imperatives, the integration of more renewables, strong climate commitments, favorable economics against conventional power generators, and new aid schemes.</p>
<p>The continent’s C&amp;I segment is growing at a pace below its true potential. This segment is projected to increase slightly in the future as businesses opt for energy security and cost-effectiveness offered by solar and storage systems.</p>
<p>Europe’s household battery installations are expected to reduce again. Residential batteries have historically driven Europe’s battery storage market. However, 2025 is expected to witness a 33% drop in such batteries. The waning energy crisis and phased-out support schemes are causing European citizens to become less inclined to install batteries at home.</p>
<p><a href="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/05/solar-europe34.png"><img loading="lazy" decoding="async" class="aligncenter wp-image-79577 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/05/solar-europe34.png" alt="" width="910" height="421" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/05/solar-europe34.png 910w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/05/solar-europe34-300x139.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/05/solar-europe34-768x355.png 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/05/solar-europe34-650x301.png 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/05/solar-europe34-624x289.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/05/solar-europe34-600x278.png 600w" sizes="(max-width: 910px) 100vw, 910px" /></a></p>
<p>The report states that energy resilience and independence would require improved regulatory and financial conditions to boost the small-scale segment.</p>
<p><strong>Options for Policymakers</strong></p>
<p>According to the report, European policymakers can help improve battery storage in the continent by accelerating energy storage adoption across the EU and implementing a unified action plan to address regulatory, financial, and market barriers, while supporting battery integration for energy security, flexibility, and decarbonization. Key steps include publishing grid capacity maps, removing excessive charges, adopting shallow connection cost models, and enabling hybrid solar-plus-storage participation in auctions. Market design reforms must support flexibility needs, update guarantees of origin, and simplify prequalification and technical standards for balancing markets. Enhancing communication between BESS, grid operators, and energy management systems, along with advancing smart meter rollout and telemetry standards, is also critical for real-time energy management.</p>
<p>In 2024, lithium-ion battery pack prices <a href="https://www.mercomindia.com/lithium-ion-battery-historic-low-price" target="_blank" rel="noopener">dropped</a> 20% from 2023 to a record low of $115/kWh, the most significant annual decline since 2017, according to BloombergNEF.</p>
<p>According to the International Energy Agency, electric car sales worldwide <a href="https://www.mercomindia.com/battery-demand-1-twh-2024-iea" target="_blank" rel="noopener">surged</a> by 25% in 2024, reaching 17 million units, pushing annual battery demand beyond the 1 TWh mark for the first time.</p>


Europe’s Battery Storage Market Grew 15% in 2024, But Trails 2030 Targets


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					</table><p><a href="https://www.mercomindia.com/government-cost-for-critical-mineral-exploration" target="_blank" rel="noopener"><strong>In a bid to enhance the exploration of critical minerals within the country, the government of India announced a 25% incentive on the approved project cost for exploration agencies, Pralhad Joshi, the Union Minister for Mines and Coal, has said.</strong></a> The decision aims to expedite the discovery and extraction of critical minerals, reduce the country’s dependence on imports, and foster self-sufficiency in these vital resources. Critical minerals are integral to contemporary industries, encompassing electronics, defense, and renewable energy.</p>
<p><a href="https://www.mercomindia.com/juniper-green-energy-from-at-capital-group-vitol" target="_blank" rel="noopener"><strong>Juniper Green Energy, an independent renewable energy power producer and operator of solar, wind, and hybrid power projects, received an investment of $150 million from AT Capital Group and Vitol to support the expansion of its operational capacity.</strong></a> The two investors had invested $200 million in Juniper nearly two years ago. With an operational portfolio of nearly 800 MW and an under-construction capacity of 435 MW, Juniper Green expects to solidify its position as a key player in the Indian renewable energy sector.</p>
<p><a href="https://cms.mercomindia.com/discoms-requisition-power-common-pool-expiry-ppa" target="_blank" rel="noopener"><strong>The Ministry of Power said distribution companies can procure power from the common pool after the expiry of the power purchase agreement (PPA), as per the provisions of the program issued by it in April.</strong></a> In April, the Ministry issued a program for pooling tariffs for coal or gas-based thermal power plants whose PPAs have expired in the backdrop of increasing demand for electricity at a time when India is transitioning to non-fossil fuel sources. The program was meant to ensure the availability of adequate resources in the grid for peaking, balancing, flexing, and redistributing benefits such as reliability and cost-effectiveness among the beneficiaries.</p>
<p><a href="https://www.mercomindia.com/europes-solar-industry-warns-bankruptcies" target="_blank" rel="noopener"><strong>The European solar manufacturing industry, represented by SolarPower Europe, wrote to the European Commission, highlighting a critical issue regarding the low prices of photovoltaic (PV) modules imported from China into Europe.</strong></a> SolarPower Europe reports that solar PV module prices have plummeted by over 25% to €0.15 (~$0.16)/W since the start of the year. European PV glass and module manufacturers are struggling to sell their products under these circumstances, and there is a looming risk of many European manufacturing companies facing severe difficulties, including insolvency, if swift action is not taken.</p>
<p><a href="https://www.mercomindia.com/powergrid-wins-bid-power-evacuation-project-in-rajasthan" target="_blank" rel="noopener"><strong>The Power Grid Corporation of India emerged as the successful bidder for the execution of the Inter-State Transmission System Project to evacuate power from Renewable Energy Zones in Rajasthan for 20 GW, Phase-III Part C1.</strong></a> The letter of intent was formally received on September 11, 2023. The scheduled commercial operation date for the overall project is 18 months from the effective date. The project is to be undertaken on a build, own, operate, and transfer basis, encompassing several critical components, including establishing a novel 765/400 kV substation with the integration of STATCOM technology in Ramgarh.</p>
<p><a href="https://www.mercomindia.com/combining-stress-tests-perovskite-solar-cells" target="_blank" rel="noopener"><strong>Recent findings from a study by the U.S. Department of Energy’s National Renewable Energy Laboratory emphasize the importance of subjecting perovskite solar cells to a combination of stress tests simultaneously to best predict their real-world functionality.</strong></a> One of the key takeaways from the research is that outdoor conditions place considerable stress on solar cells, leading to efficiency losses and reduced power production over time. Solar cells, including those based on perovskite materials, must endure a range of harsh environmental conditions, such as humidity, heat, and varying light levels.</p>


Daily News Wrap-Up: Ministry Announces 25% Incentive for Critical Minerals Explorations


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					</table><p>The European solar manufacturing industry, represented by <a href="https://www.solarpowereurope.org/" target="_blank" rel="noopener">SolarPower Europe</a>, has written to the European Commission, highlighting a critical issue regarding the low prices of photovoltaic (PV) modules imported from China into Europe.</p>
<p>SolarPower Europe reports that solar PV module prices have plummeted by over 25% to €0.15 (~$0.16)/W since the start of the year. European PV glass and module manufacturers are struggling to sell their products under these circumstances, and there is a looming risk of many European manufacturing companies facing severe difficulties, including insolvency, if swift action is not taken.</p>
<p>Despite efforts by the European Commission and member states to support the resurgence of the European PV manufacturing industry, Chinese PV manufacturers are intentionally undercutting prices, undermining these initiatives, the representative body said in its letter. This raises doubts about the effectiveness of EU objectives and the Net-Zero Industry Act in strengthening the EU&#8217;s PV supply chain.</p>
<p>The letter highlights the substantial increase in European expenditures on solar PV imports, surging from approximately €6 billion (~$6.4 billion) in 2016 to over €25 billion (~$27 billion) in the last year. European ports, primarily in Rotterdam, now hold a surplus of Chinese PV modules, exceeding Europe&#8217;s annual demand. At the start of 2023, warehouses contained around 40 GW of Chinese PV modules, equivalent to Europe&#8217;s annual installed volume in 2022.</p>
<p>Imports of Chinese PV modules have continued to surge, projected to reach a record 120 GW in 2023, surpassing expected installations in the same year, just over 60 GW. The organization claimed that this influx has severely impacted European PV manufacturers, their expansion plans, and prospects for new manufacturers within the EU.</p>
<p>The letter claims that Chinese companies aggressively offer European customers two-year contracts with prices consistently undercutting €0.15(~$0.16)/W. This has resulted in a significant decline in European PV module production, with manufacturers left with over 500 MW of unsold modules, equivalent to more than 30% of their annual manufacturing capacity.</p>
<p>The crisis extends to producing ingots and wafers essential for the PV industry. <a href="https://www.crystals.no/" target="_blank" rel="noopener">Norwegian Crystals</a>, a notable ingot producer, filed for bankruptcy, while <a href="https://www.norsun.no/" target="_blank" rel="noopener">NorSun AS</a> announced production halts and layoffs due to plummeting prices in Europe.</p>
<p>European PV manufacturers face a challenging choice: continue production shutdowns and risk bankruptcy by year-end or migrate to regions like the U.S., which support the revival of their PV industry. Unlike the departure of the European solar industry from the U.S. in 2012 which was accompanied by numerous bankruptcies, according to the group, European PV manufacturers are now welcomed in the U.S., thanks to initiatives like the Inflation Reduction Act and anti-dumping tariffs.</p>
<p><strong>Demands by SolarPower Europe</strong></p>
<p>The letter concludes with three urgent demands for action:</p>
<ul>
<li><strong>Exclusion of Forced Labor Products</strong>: SolarPower Europe calls for the immediate exclusion from the European market of solar modules produced with forced labor, emphasizing the rejection of products associated with modern slavery.</li>
<li><strong>Emergency Acquisition of PV Modules</strong>: An expedited emergency measure to address the forced price decline caused by Chinese trade practices. This could involve acquiring European PV manufacturers&#8217; solar module inventories through competitive bidding processes within frameworks such as the Temporary Crisis and Transition Framework (TCTF) or the Ukraine Facility framework for aid and energy support in Africa.</li>
<li><strong>Promotion of European PV Production</strong>: Encouragement for European PV installers and project developers to incorporate a minimum share of European production along the entire value chain. This should be accompanied by the definition of European solar PV modules and non-financial criteria in PV auctions to reward environmental and social benefits. The industry urgently seeks assurance regarding the uptake of domestic production, starting no later than 2026.</li>
</ul>
<p>Last October, CEOs from companies such as SolarPower Europe, First Solar, BayWa r.e., Wacker Chemie AG, and Iberdrola Group <a href="https://www.mercomindia.com/companies-urge-eu-boost-investment-solar-manufacturing" target="_blank" rel="noopener">urged</a> the European Commission to call for action to boost investment in the continent’s solar photovoltaic industrial base and reinforce the Commission’s solar deployment and energy security ambitions.</p>
<p>In June last year, energy storage company Fluence Energy and nine other energy market organizations also <a href="https://mercomindia.com/european-union-urged-to-rethink-the-structure-of-its-energy-markets/" target="_blank" rel="noopener">wrote</a> to European policymakers to rethink the structure of European energy markets and the REPowerEU plan. They outlined why Europe needs a rapid rollout of technologies to increase grid flexibility and strong targets and policy frameworks to encourage the near-term adoption of these technologies.</p>


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