02/10/2024
📊 This summer, we released our 2023 Market Outlook, reporting 1.8 million m2 of newly installed capacity of solar thermal collectors across Europe. Like other renewable heat sectors, the market sales of solar thermal in Europe were tougher compared to 2022 – not quite the right signal that the EU should send regarding its energy security objectives.
📉 The reasons for this decline are manifold. 2023 was characterized by unstable signals regarding H&C, leading to a stop and go market effect in some countries. Furthermore, interest rates rose and in parallel gas prices and the ETS carbon price (for industry) decreased. Dumping practices of solar PV panels had an effect too, as their very low prices indirectly affect solar thermal .
📈 The good news is that this general trend doesn’t apply to all European countries. The UK saw an increase of 70% of newly installed capacity in 2023, and positive figures apply also to Greece, France, and the Netherlands. This is mostly owed to political schemes, showing the importance of providing incentives for technologies.
🌞 We know that the decarbonisation of is imperative to reach Europe’s renewable energy targets, provide energy security, and boost European industrial competitiveness. The European solar thermal sector can advance this if proper political push and adequate incentives are in place. By 2030, solar heat in Europe aims to triple its deployment, creating 250,000 local jobs and saving 33.3 Mt of CO2 per year.
➡ Read our full market report and policy calls here: https://solarheateurope.eu/publications/market-statistics/solar-heat-markets-in-europe/
