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THE SOLAR PHOTOVOLTAIC MARKET IN EUROPE

French report

Growth potential, market attractiveness and competitive dynamics

REPORT’S MAIN STRENGTHS :

  • The latest market figures and competition
  • Our 2030 forecasts and detailed country-by-country data
  • Numerous case studies to illustrate trends and challenges in the sector
  • The ranking of the top 50 photovoltaic operators in Europe
  • A practical format with nearly 30 slides of insights and a detailed 200-page report
  • Access to the complete study database
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Collection : European Business Insights

Last update : September 2025

Price : 4 500 €

Language : French / English

Format : PDF (immediate availability)

Reference : 25WSCO73

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IN THIS REPORT
SUMMARY
COMPANIES MENTIONED
FACTS &
FIGURES
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THE PRESENTATION
IN THIS REPORT

REPORT SCOPE AND MARKET OVERVIEW


The installed capacity of photovoltaic power plants exceeded 320 GW in Europe in 2024. Germany is the leading market with over 30% of installed capacity, far adiv of Italy and Spain. Countries with historically high electricity prices, such as Germany and Italy, have had a stronger interest in developing their photovoltaic production than those with traditionally lower prices, such as France.


The photovoltaic industry has taken advantage of the latest energy crisis, and more broadly of the decarbonisation imperatives of European countries, to carve out a place in the energy industry. For the first time, solar energy surpassed coal in European electricity production in 2024. The surge in kilowatt-hour prices observed from 2021 onwards prompted more and more individuals and businesses to install solar panels to reduce their energy bills. In 2023-2024, the attractiveness of photovoltaics also benefited from falling prices for photovoltaic panels.


The European photovoltaic market is dominated by large European operators. Due to the weight of their domestic market, German groups (Greencells Group, Goldbeck Solar, Encavis, etc.) naturally rank first, alongside major European energy companies such as France's Engie and TotalEnergies, Italy's ENI, Spain's Iberdrola and Portugal's EDP. Non-European players, on the other hand, are few and far between. They are focusing on markets with higher growth potential, such as Latin America and South-East Asia.


The upstream part of the photovoltaic value chain, particularly the manufacture of key components, is largely concentrated in China. However, gigafactories are expected to be built on the European continent in the coming years with the aim of strengthening Europe's energy sovereignty. Another risk for the European industry is the possibility of political change within EU Member States. Such a shift could call into question the energy trajectory of these countries to varying degrees.


In this report


Market analysis and outlook to 2030

This study provides a comprehensive overview of the photovoltaic market in Europe. Against a backdrop of declining public support for renewable energy, what are the real prospects for 2030? How can business models be adjusted once subsidies come to an end? And how can deployment strategies be rethought facing strong local opposition?

Identify regions and countries with strong potential

Using an exclusive scoring system, Xerfi's experts have identified the most promising European markets. Based on ten key competitiveness indicators, the study highlights the areas to focus on for the strategic development of photovoltaic operators. Which markets offer the most opportunities? What are the specific attractions of each country?

Deciphering competition and its evolution

The report provides a detailed map of the competition: positioning, geographical location, and profiles of the leaders. Who are the best-performing operators? And what are the main characteristics of the consolidation trend currently underway in the sector?

SUMMARY

1. EXECUTIVE SUMMARY: INSIGHTS FROM THE REPORT

In around 30 slides, the executive summary provides access to the study's conclusions on market outlook by 2030, competitive dynamics and strategic challenges facing the sector.

2. MARKET DYNAMICS AND XERFI FORECASTS FOR 2030

Market drivers and demand indicators : renewable energy targets, electricity consumption, solar panel prices, electricity prices, average PV costs, regulatory framework and support mechanisms

The latest market figures in Europe : size and structure of the photovoltaic (PV) market by country and type of power plant, European market dynamics and in five markets (Germany, Italy, Spain, the Netherlands and France)

Xerfi's 2030 forecasts for installed photovoltaic capacity in Europe

3. MAJOR ISSUES AND STRATEGIC CHALLENGES FACING THE PHOTOVOLTAIC INDUSTRY

Preparing for the transition to a subsidy-free model| Case study: Iberdrola's offering in the power purchase agreement (PPA) market | Voltalia's strategy in the energy storage market

Building a solar panel production chain in Europe | Case study: the gigafactory project in Fos-sur-Mer

Seeking alternatives to land artificialisation : recent initiatives in floating solar power and vertical photovoltaics

Developing a solar panel recycling industry : overview of various European initiatives and recent advances to increase end-of-life panel recycling

Exporting expertise outside Europe : the main target markets and deployment methods

4. COMPARATIVE MARKET OVERVIEW: XERFI'S ATTRACTIVENESS SCORING

Exclusive ranking of the most attractive photovoltaic markets

Comparative mapping of European countries based on more than ten economic and sectoral criteria

  • Photovoltaic market potential: retrospective market dynamics, outlook to 2030, average sunshine and land availability

  • Potential profitability of photovoltaics: investment costs, support mechanisms for the sector, wholesale electricity prices and maturity of the power purchase agreement (PPA) market

  • Operational factors: capacity of the electricity grid to absorb the increase in renewable energy production, time required to obtain administrative authorisations and availability of labour for installation

12 fact sheets on the attractiveness of the main countries : Austria, Belgium, France, Germany, Greece, Italy, the Netherlands, Poland, Portugal, Romania, Spain and the United Kingdom

5. THE COMPETITIVE LANDSCAPE AND ITS EVOLUTION

The forces at play in the operation of photovoltaic power plants

  • Rankings of operators by installed capacity, financial performance and fleet growth

  • The positioning of players by type of plant operated, geographical coverage and degree of of specialisation in solar energy

Key operator profiles: Elevion Group, Encavis, Eneco, Engie, Goldbeck Solar, Greencells Group, Lightsource bp, RP Global, Sonnedix, TotalEnergies

COMPANIES MENTIONED

Groups and companies analyzed in the report

4MAXPOWER

ACCIONA

AES CORPORATION

AKUO

ARKOLIA

AXPO GROUP

BAYWA RE

BETTER ENERGY

Blue Elephant Energy

Bluefield Solar Income Fund

CCE

CVE GROUP

EDF

EDP

EF SOLARE ITALIA

ELEVION GROUP

ENBW

ENCAVIS

ENECO

ENEL GREEN POWER

ENERGIEKONTOR

ENERLAND

ENERPARC

ENERY

ENGIE

ENI

ERG EVOLVING ENERGIES

EUROPEAN ENERGY

GALP ENERGIA

GENERAL SOLAR

GOLDBECK SOLAR

GREENCELLS GROUP

GREENVOLT POWER

IB VOGT

IBERDROLA

JPEE

LIGHTSOURCE BP

NEOEN

POWER CAPITAL RENEWABLE ENERGY

R POWER

REDEN SOLAR

REZOLV ENERGY

RP GLOBAL

RUBIS

RWE

SCATEC

SOLARIA

SOLEIRE RENEWABLES

SONNEDIX

STATKRAFT

SUNLY

TENERGIE

TOTALENERGIES

VOLTALIA

WELINK GROUP

FACTS &
FIGURES

MARKET CONTEXT AND ENVIRONMENT

Tab 1 Photovoltaic capacity by type of plant in the EU 27 in 2024

Tab 2 Photovoltaic investment costs (CAPEX) by type of installation in Europe in 2023

Tab 3 Greenhouse gas emissions in the EU-27 (1990-2023)

Tab 4 Share of renewable energy in gross final energy consumption in the EU (2004-2023)

Tab 5 Share of renewable energy in EU energy consumption by country in 2023

Tab 6 Electricity consumption in the EU-27 (2014-2023)

Tab 7 Share of renewable energy in EU final electricity consumption (2004-2023)

Tab 8 Sources of electricity generated from REs in Europe in 2023

Tab 9 Average spot prices on electricity exchanges (2015-2024)

Tab 10 Electricity prices for private and business customers (2017-2024)

Tab 11 Average prices of solar PV modules in Europe (2021-2025)

Tab 12 Average price of a 6 kWp installation in 2024


EUROPEAN MARKET DATA

Tab 13 Installed PV capacity by European country in 2024

Tab 14 Segmentation of the European market by power segment in 2020 and 2024 (EU 27)

Tab 15 New PV capacity installed by EU countries (2018-2024)

Tab 16 Share of the top five markets in cumulative capacity of the EU-27 in 2014 and 2024

Tab 17 Cumulative capacity of photovoltaic installations in Germany, Italy, Spain, the Netherlands and France (2017-2024)

Tab 18 New PV capacity installed annually in Germany, Italy, Spain, the Netherlands and France (2017-2024)

Tab 19 Number of photovoltaic installations in Germany, Italy, Spain, the Netherlands and France (2017-2024)


COUNTRY CHARACTERISTICS AND COMPETITIVE ADVANTAGES

Tab 2 Installed photovoltaic capacity targets for 2030 by country

Tab 21 Changes in installed photovoltaic capacity since 2018 by country

Tab 22 Projections of electricity consumption by EU country in 2030

Tab 23 Solar potential of European countries (measured by Global Horizontal Irradiance (GHI))

Tab 24 Area suitable for the installation of ground-mounted solar power plants by country (as a percentage of the country's total area)

Tab 25 CAPEX per country for photovoltaic installations in the residential segment in 2023

Tab 26 CAPEX per country for large-scale solar power plants (> 1,000 kW) in 2023

Tab 27 Wholesale electricity prices by European country in 2024

Tab 28 Volume of photovoltaic power purchase agreements (PPAs) contracted in the main European countries since 2015

Tab 29 Average time taken to issue permits for the construction of a ground-mounted solar power plant in 2022

Tab 30 Number of jobs in the photovoltaic sector by country in 2023


THE COMPETITIVE LANDSCAPE AND ITS DYNAMICS

Tab 31 Ranking of the 50 leading photovoltaic operators in Europe in 2024

Tab 32 Positioning of leaders by source of electricity production (PV, wind, nuclear, hydro, etc.)

Tab 33 Positioning of the leading European operators by type of photovoltaic power plant operated

Tab 34 Geographical location of leading groups in Europe

Tab 35 Ranking of the main European operators by level of profitability

Tab 36 Trends in photovoltaic capacity operated by European leaders


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September 2025 | EN 4 500 €
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