Solar PV plays an essential role in the transition to a carbon-free economy, and the experts believe that accelerating Solar PV production can be a boon to the European energy sector
Although the European market is the second-largest in the world, barely 3% of all PV panels are manufactured in Europe. As Solar PV plays a significant role in the transition to a carbon-free economy, the goal for 2030 is to expand solar PV’s share of the total power production from three percent to 15 percent. New technologies are geared up to substitute the first solar PV generation, allowing Europe’s solar PV ecosystem to grow.
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The European Union has been aiming to significantly expand the amount of renewable energy in Europe’s energy mix to meet its climate neutrality objective of 2050 by reducing greenhouse gas emissions to at least 55 percent. Solar PV is currently at the top of its game among the other renewable energy resources backed by the EU. According to the data, as of 2021, the number of solar PV facilities installed in Europe has surged.
The EU believes in creating a competitive and sustainable solar PV industry in Europe across the entire value chain, from the research and development of new PV modules to PV manufacturing and electricity generation, which will aid in accelerating the expansion of solar power generation. Solar power Europe and the European Solar Manufacturing Council are two European organizations actively striving to unite European countries around this effort. Currently, the majority of solar panels are in Asia, and during the pandemic, the EU realized how critical it is to bring back manufacturing facilities in Europe. As a result, in January 2022, the European Commission launched a public consultation process to develop a joint European solar power, which would be available this summer. This strategy will allow the European solar community to work together to identify the best industrial, technical, and legal solutions.