Due to the benefits of solar energy and the drop of the cost of solar panel installations, and despite the recent reductions in the Feed-in Tariffs not only in the UK but also in Germany, Italy and Spain – where the green technology fundings were completely cut -, the figures of the total solar energy installed in Europe keep on growing.
A recent report published by the Joint Research Centre of the European Commission reveals that last year, 46.1GW of new energy capacity was installed in Europe, with 56% coming from photovoltaic technology, and meeting, this way, 2% of all of its electricity demand using solar power – the amount of energy needed to power Austria, as reported by Business Green. The report also highlights that the UK, Germany, Italy, Spain, the Czech Republic, France and Belgium are the leaders in installed solar photovoltaic capacity in all Europe.
Arnulf Jager-Waldau, senior scientist for renewable energy at the Joint Research Centre, said that “From 2008 to second quarter of 2012, residential PV electricity system prices have decreased by almost 60 per cent in the most competitive markets, and in some markets, the cost of PV-generated electricity is already cheaper than residential electricity retail prices,” he wrote. “Due to falling PV system prices and increasing electricity prices, the number of such markets is steadily increasing.“