Energy prices in Europe are soaring. Some point to regulation as the major culprit, others point to geopolitical events. Regardless of the cause, those sky high energy prices are driving demand for alternative sources of energy, especially green, renewable, and inflation proof.

The industry group SolarPower Europe has just released a report that details how fast the solar industry is growing across the European Union.

According to the report, an eye-popping 41.4 Gigawatts of solar energy has been added this year. That’s a 46% increase as compared to the 28.1 Gigawatts added last year.

While we love to see the industry flourish this way, this spectacular growth rate can add to the supply issues currently being seen globally. Let’s face it, manufacturing capacity in not growing as fast as demand, which leads to bottlenecks, delays, and lack of equipment availability.

Euronews.green reports:

Solar power in Europe has soared by almost 50 per cent in 2022, according to a new report from industry group SolarPower Europe.

It reveals that the EU installed a record-breaking 41.4 GW of solar this year – enough to power the equivalent of 12.4 million homes. That is a 47 per cent increase from the 28.1 GW installed in 2021.

In one year, the bloc’s capacity to generate power from this renewable source has increased by 25 per cent.

“The numbers are clear. Solar is offering a lifeline amid energy and climate crises,” says Walburga Hemetsberger, CEO of SolarPower Europe.

“No other energy source is growing as quickly or reliably as solar.”

And the growth of solar shows no signs of slowing down. The International Energy Agency says the EU needs to install around 60 GW of solar power in 2023 to compensate for shortfalls in Russian gas.”

https://www.euronews.com/green/2022/12/20/eu-solar-power-soars-by-almost-50-in-2022-which-country-installed-the-most

You can read the full details, including a breakdown of solar added by country, by visiting euronews.green.