The U.K. Propped Up Europe's Ailing Solar Market Last Year
- Solar developers rushing for subsidy expanded U.K. market
- Europe market grew for first time since 2011, trade group says
Solar panels sit in an array at the Southwick Estate Solar Farm, operated by Primrose Solar Ltd., near Fareham, U.K., on Friday, Oct. 2, 2015. The plant, situated in 200 acres (81 hectares) of farmland, consists of 175,000 monocrystalline PV modules and has a capacity of 48 megawatts.
Photographer: Simon Dawson/BloombergIf it wasn’t for the U.K., Europe’s solar power market would have flat-lined last year, according to new industry figures that reveal the world’s biggest market for the technology is struggling to retain its scale.
On Friday, the continent’s largest solar market will end generous subsidies for solar farms, undermining growth in one of the region’s few bright spots. The European solar market will start contracting next year as a result, according to SolarPower Europe, a trade group that is publishing a report on the industry this week. The industry has been in decline in recent years as Germany, Italy and Spain slashed subsidies and shifted to market-based support mechanisms for renewables.