Europe Residential Solar PV Panels Market: Trends, Drivers, and Growth Opportunities
The Europe residential solar PV panels market size is expected to reach USD 62.33 billion by 2030, according to a new report by Grand View Research, Inc. The market is anticipated to expand at a CAGR of 7.6% from 2025 to 2030 Rising concerns over carbon gas emissions caused by power generation and the transition from nonrenewable energy to renewable energy are expected to result in a surge in the demand for residential solar energy and panels in Europe over the forecast period. According to the European Commission, the price of solar PV panels decreased by 75% from 2009 to 2019 while the market demand grew. The cost of solar PV modules fell from USD 2.4 per watt to USD 0.4 per watt. The prices are projected to further decline during the forecast period. The demand for solar PV panels for residential use has been increasing owing to the rising costs of oil and gas and decreasing costs of solar PV panels, making them attractive to homeowners. ...