Despite a 12% decrease in value, the EU remains heavily reliant on solar panel import, with China supplying a staggering 98% of the total €19.7 billion worth in 2023. This dependence underscores the challenges the EU faces in building a self-sufficient green energy sector.
“Solar energy, in particular photovoltaics (PV), is currently the fastest growing renewable energy source in the EU. Last year, 56 GW of solar PV were installed in the EU, two thirds of it on rooftops, empowering consumers and protecting them from high electricity prices and reducing land use. The installations in 2022 and 2023 saved the equivalent of 15 billion cubic metres of Russian gas imports in total, mitigating the risk of disruption of gas supplies to the Union. In addition, the sector provides around 650 000 jobs, 90% of these on the deployment side, and is projected to increase until around 1 000 000 by 2030.” EU Commission
While the value of solar panel imports fell, likely due to decreasing prices, the actual quantity increased by 5%. This indicates continued strong demand for solar energy solutions within the EU as it pushes towards its renewable energy goals.
The EU has outlined plans to boost domestic production of solar panels and other green technologies to reduce its reliance on imports and strengthen its own industrial base. However, achieving this goal will require significant investment and policy support to compete with China’s well-established manufacturing capacity.
This information comes from a recent Eurostat report analyzing international trade in green energy products. The report also highlighted significant EU imports of liquid biofuels (€3.9 billion) and wind turbines (€0.3 billion), with China again playing a major role as a supplier.
Source: Eurostat
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