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Energy Crunch Spurs ‘Insane’ Rush for Industrial Rooftop Solar

  • Demand for on-site solar power has surged in recent weeks
  • Europe’s industry can cut costs by boosting renewable power
Photovoltaic modules sit on a rooftop at the Solarworld AG factory in Freiberg, Germany.

Photovoltaic modules sit on a rooftop at the Solarworld AG factory in Freiberg, Germany.

Photographer: Martin Leissl

European companies are rushing to get solar panels installed on the roofs and open spaces around their businesses to offset their exposure to the latest surge in natural gas and power prices since Russia invaded Ukraine.

Building some solar power generation is a relatively quick fix for soaring power bills, with installations taking less than a year. That means new panels could help reduce Europe’s most energy-intensive businesses from natural gas prices that have roughly tripled in the last three weeks.