Regional PV Markets: Europe

European PV Market Overview

2009 was a year of recovery from the sudden

collapse of the world’s largest PV market,
Spain, in 2008. The recovery was driven by a
new, low pricing environment that set the
foundation for a 2010 market boom. The
European market took time to respond to the
rapid declines in PV prices; however, fourth
quarter market activity was nearly five times as
much as second quarter. Germany in particular responded dramatically to lower c-Si module
prices.

• Growth of the European market was just 16% in 2009; excluding Spain, however, growth
was a remarkable 126%.
• Stability of the PV industry is not projected; the boom and bust cycles in Europe illustrate
the industry’s continued dependence on subsidy or market incentives. Market incentives’
costs become a political issue when the programs exceed their planned scale.

German PV market reaches 3.87 GW in 2009, up 109% from 2008

• Growth in the German PV market would have been even larger if not for a shortage of
inverters that has constrained market growth since September 2009.
• Largest customer segments in Germany were investor groups (42% of the on-grid
market), agricultural (18%) and commercial (14%). Utility and government customers
played a smaller role, while private residential PV systems accounted for 13% of the
market.

Italy became the world’s second largest PV market in 2009

• Italy had 770 MW of newly installed capacity

• Czech Republic, France and Belgium combined to add 933 MW of newly installed
capacity in 2009.
Figure: Leading European PV Markets

Source: Solarbuzz European PV Market 2010

Detailed information on European PV markets is included in the Solarbuzz European PV

Markets report, updated annually. This and other Solarbuzz regional market reports provide
detailed insight including market segmentation, government policies, downstream acquisitions,
project-by-project listings, investment economics, pricing and forecasts. Learn more.