European photovoltaic (PV) generation in Europe will increase by about 50 TWh in 2024, more than any other generation source, after the record 60 GW DC of photovoltaic (PV) installations in 2023, Rystad Energy said on Monday.
The PV expansion is led by Germany, which last year added 14 GW DC, including 6.5 GW DC of rooftop PV systems for residential use. Germany is expected to add more solar capacity than any other European country in 2024. This year is also set to see an improvement in solar radiation.
According to Rystad Energy, solar will lead growth for the first time in 2024 both in terms of capacity and generation.
Wind power generation is also projected to increase in 2024 but it will fail to reach last year’s rise by 50 TWh which was achieved on the back of capacity additions and a windier year, especially in the final quarter. In 2024, wind generation is expected to increase by 38 TWh.
There will also be more stable output from nuclear generation, while fossil generation will continue to decrease, but at a slower rate than in 2023. The fall is forecast to be 60 TWh.