2024 European And The US Photovoltaic Market

In terms of the European market, TrendForce predicts that the newly installed photovoltaic capacity in Europe is expected to reach 101.5 GW by 2025, a year-on-year increase of 6.2%, with Germany, Spain, and the Netherlands ranking among the top three.

The European market for distributed photovoltaics mainly relies on subsidy policies to promote, but subsidy policies still face a gradual reduction trend, while centralized photovoltaics rely on government bidding and PPA project promotion.

Although Europe is facing problems such as low electricity demand and frequent negative electricity prices, the demand for photovoltaic installed capacity still shows a strong growth trend under its overall goals of long-term renewable energy and coal withdrawal.

In terms of the American market, TrendForce predicts that the new installed capacity of photovoltaics in the Americas is expected to reach 92.8 GW by 2025, a year-on-year increase of 15.4%. The increase in installed capacity is still mainly in the United States, and the proportion of slowing growth in Brazil has declined.

Distributed photovoltaics in mainstream countries in the Americas still rely on subsidies to drive installation demand, coupled with high electricity prices in some countries, which is expected to stimulate the demand for self use photovoltaic installations. Centralized photovoltaics mainly rely on PPA projects to promote, and currently, grid consumption and financial pressure in Latin America will be the main obstacles to the future development of the Americas.