Europe recently reached an important solar energy milestone, installing 100 gigawatts (GW) of grid-connected photovoltaic (PV) power, according to a press release from SolarPower Europe, citing figures from the research company IHS.
"This is an unprecedented achievement and a cause for celebration. Just a few years ago solar was considered to be a niche alternative technology, but it is now a major element of our energy system. In fact solar power is one of the most competitive forms of energy generation in Europe today," SolarPower Europe President Oliver Schäfer said.
From less than 3 GW of solar PV capacity in 2005, Europe surpassed 100 GW in the second quarter of 2016. This was primarily due to two factors - an 80 percent reduction in costs and regulatory frameworks supportive of solar as countries have acted to meet the European Union's Renewable Energy Directive.
SolarPower Europe CEO James Watson noted that, in the current post-feed-in tariff climate, it was necessary to have the right electricity market design and the right long-term investment signals for solar to flourish. “We hope that the European Commission's forthcoming market design reform and Renewable Energy Directive will pave the way for the 200 gigawatt benchmark," he said.