According to a report by energy giant Stakraft, annual solar capacity in Europe is set to grow "significantly" following the invasion of Ukraine.
The company's latest low-emissions scenario shows that European solar PV installations are expected to increase to 45-52GW per year by 2030, up from an annual estimate of 33GW before Russia's invasion of Ukraine.
Last year, 27GW of solar PV was developed in the EU. Trade body SolarPower Europe expects EU PV installations to reach almost 40GW in 2022, close to Statkraft's revised target for the coming years.
Statkraft's latest report revises annual solar PV installations in the EU to 45-52GW, up from 33GW since the war in Ukraine
Unlike wind power, Statkraft's report expects solar power installations to be in line with REpowerEU's target of 600GW of solar PV by the end of the century, with an annual installed capacity of around 45GW. meanwhile, wind power is expected to have an annual installed capacity of 18GW-26GW, well below REpowerEU's target of 32GW per year.
In addition, solar energy has been identified as a "key" renewable energy technology for reducing the EU's dependence on Russian gas and reducing emissions.
Under the low-emissions scenario, solar will become the world's largest source of electricity by around 2035, and renewables will account for nearly 80% of global electricity generation in 2050. And solar power will generate more than 21,000 TWh, equivalent to 80% of current global electricity demand, making it the largest source of electricity.
Christian Rynning-T?nnesen, Chief Executive Officer of Statkraft, said, "This year's analysis shows that the energy crisis we are currently facing could eventually become a catalyst for a green energy transition. In order to gain energy security and energy independence, the main solution is to develop clean and efficient energy sources at a faster rate than before."
The response to the climate crisis and the solution to the current energy crisis share the same solution, which is more renewable energy sources and more efficient energy use.
Therefore, a combination of increased use of renewable energy sources and more flexible technological solutions, such as energy storage technologies, will help to balance the intermittency of solar and wind energy.