SOLAR-PROMOTION-GMBH
11.7.2024 15:32:31 CEST | Business Wire | Press release
The deployment of renewable sources of energy is picking up speed around the world. The impressive results of several market surveys recently presented at The smarter E Europe 2024 prove this. Photovoltaics (PV) and storage systems in particular are experiencing dynamic growth, and the trend goes towards the combination of the two technologies. The number of large-scale PV power plants is growing rapidly, as is the number of residential, commercial and industrial PV installations combined with storage systems.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240711733322/en/
The Global Market Outlook for Solar Power 2024-2028 highlights the dynamic growth of photovoltaics. (Graphic: Business Wire)
SolarPower Europe’s Global Market Outlook for Solar Power 2024–2028 reports a global PV growth of 87 percent in 2023 compared to the previous year. 447 gigawatts (GW) of capacity were installed, which brings the total global capacity to 1.6 terawatts (TW). To put this into perspective, only 239 GW were installed in 2022. According to the study, we are likely to exceed 2 TW of total capacity in the course of this year, after the 1 TW mark was only surmounted in 2022. Achieving the global goal of tripling renewables by 2030 will require financing, digitalizing and flexibilizing energy systems. 1 TW of PV capacity could be installed each year from 2028.
Besides, more and more countries are becoming ‘gigawatt countries’: from 31 in 2023, their number is likely to go up to 37 in 2024. In total, 576 gigawatts of renewable capacity were added last year. While PV makes up by far the largest share at 78 percent, wind power accounts for 20 percent with 117 gigawatts of total capacity. Walburga Hemetsberger, CEO of SolarPower Europe, comments: “The world has truly entered its solar age. How far solar can go will be determined by equitable global access to financing, and the political will to deliver flexible energy systems fit for the renewable reality.”
European storage market is developing dynamically
According to the European Market Outlook for Energy Storage 2024–2028 (also published by SolarPower Europe), 2023 was the year in which Europe saw high electricity prices and the desire to become independent. As a consequence, battery storage capacities skyrocketed. 17.2 gigawatt hours (GWh), that is 94 percent more than last year, were added. This development was mainly driven by the residential sector, where 12 GWh of new capacity were installed. But the commercial and industrial battery sector and on-grid batteries for large-scale energy storage also showed promising developments, adding 1.6 GWh and 3.6 GWh, respectively.
Germany: Record growth of PV
Germany is one of the four leading countries when it comes to solar energy use. The German Solar Association’s (BSW-Solar) study The German PV and Battery Storage Market underlined this with impressive figures: In 2023, added PV capacity grew by 97 percent – the highest registered growth rate in Germany ever recorded. The trend of combining PV systems with battery storage also continued. In 2019, 46 percent of all residential PV systems were installed together with battery storage systems, last year, it was 77 percent. “This trend is likely to continue as supportive regulations are expected to be introduced in the near future,” states David Wedepohl, Managing Director of International Affairs at BSW-Solar. “When combined with intelligent storage systems, the benefits for the energy system go far beyond self-consumption.”
All market surveys are available for free download via the The smarter E Digital on-demand platform:
The smarter E Europe
“Accelerating Integrated Energy Solutions“ – that’s the motto of The smarter E Europe. Europe’s largest alliance of exhibitions for the energy industry puts the spotlight on cross-industry solutions for a renewable 24/7 energy supply covering electricity, heat and transport. The smarter E Europe unites four exhibitions and will take place from May 7–9, 2025 at Messe München.
For more information, please visit: www.TheSmarterE.de
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240711733322/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Vultr Expands European Footprint with 33rd Cloud Data Center Region in Milan, Italy19.5.2026 17:28:00 CEST | Press release
New region strengthens Vultr's commitment to affordable, high-performance cloud infrastructure and Europe's thriving open source and AI ecosystem Vultr, the world’s largest privately-held cloud infrastructure company, today announces the launch of its 33rd global cloud data center region in Milan, coinciding with AI Week 2026 at Fiera Milano Rho, where over 700 international speakers will gather for Europe's largest AI event. Vultr is a platinum sponsor and is also co-hosting the AI Agent Olympics Hackathon with over 1,000 participants. Milan becomes Vultr's ninth European cloud data center region, joining Amsterdam, Frankfurt, London, Madrid, Manchester, Paris, Stockholm, and Warsaw. This launch represents the company's latest expansion of a global network reaching 90% of the world's population within 2–40 milliseconds. Vultr’s cloud data center location will be delivering Vultr’s full-stack AI infrastructure, including Vultr’s flagship cloud compute offering, VX1, in addition to Vult
Global Millennial Capital Closes USD 100 Million IPO Opportunities Fund Focused on AI, Decentralized Financial Infrastructure, and Climate Technologies19.5.2026 17:16:00 CEST | Press release
Global Millennial Capital Ltd. (“GMCL”) today announced the final closing of its inaugural IPO Opportunities Fund at USD 100 million. Raised through a private placement with institutional and professional investors, the fund targets late-stage and special opportunities investments across mid-cap technology companies operating in high-growth sectors, including artificial intelligence, decentralized finance infrastructure, cybersecurity, digital infrastructure, enterprise software, and climate technologies. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260519513523/en/ Global Millennial Capital announces the successful final close of its USD 100 million IPO Opportunities Fund, reinforcing its commitment to investing in high-growth technology companies across artificial intelligence, digital infrastructure, cybersecurity, and next-generation financial systems. The fund is designed to capitalize on the increasing number of tech
Miro Takes Aim at the Gap Between AI Potential and Organizational Reality19.5.2026 16:00:00 CEST | Press release
At Canvas 26, Miro establishes its AI platform as the connective layer of the modern AI ecosystem — bringing together teams, agents, and the tools they already work in to turn individual AI productivity into organization-wide transformation Miro®, the AI Innovation Workspace for teams, has announced new innovations across its AI platform, reinforcing its position as the collaboration layer where people, context, and agents from every function converge to solve hard problems, make better decisions, and build the right thing faster. Major upgrades to Miro’s agentic AI tools — including Sidekicks and Flows — alongside new Connectors, help customers close the gap between individual AI productivity and organization-wide transformation. AI is reshaping the pace of work, but often teams are not realising the benefits. In many organizations, a gap has emerged between what individuals can now do and what companies can harness. The reason? Collaboration has fractured. Teams have moved from one m
Wolters Kluwer Medi-Span Selected to Provide Personalized Medication Decision Support at The Christie NHS Foundation Trust19.5.2026 15:30:00 CEST | Press release
Roll-out at largest EU cancer center marks first Medi-Span NHS implementation Wolters Kluwer Health has implemented its industry-leading medication decision support (MDS) solution, Medi-Span®, at the world-renowned specialist oncology center, The Christie NHS Foundation Trust. “The Christie is recognized globally for its excellence and commitment to delivering exceptional patient care,” says Israel Armstrong, Vice President for Medi-Span International at Wolters Kluwer Health. “We’re proud that our first Medi-Span implementation in the NHS should be with such a prestigious institution. We look forward to more collaborations that help streamline processes further and help clinical teams make the most highly informed decisions.” The Christie is a leading expert in cancer care, research and education and is the largest single-site cancer center in Europe. The Christie treats more than 60,000 patients a year and is the first facility in the UK to be accredited as a comprehensive cancer cen
Torq Acquires Jit to Unleash the First Enterprise AI SOC Context Graph—and Rewrite the Future of SecOps19.5.2026 15:00:00 CEST | Press release
With Jit Acquisition, Torq Catapults Enterprise SOCs Into a New Realm of Detailed Contextual Investigations That Drive Precision Decision-Making Torq, the established agentic security operations leader, today announced the acquisition of Jit, the Boston-based AI Context Graph cybersecurity pioneer. This move marks a dramatic leap forward for the Torq AI SOC Platform by ensuring agentic investigations are precisely informed via organization-specific contextual data. This shift redefines agentic reasoning, moving beyond static facts such as users, devices and their relationships, to prioritize live, dynamic contextual data overlaid on top, including business drivers, and the real-time state of the enterprise. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260519044833/en/ Instead of acting on fragmented data or having investigations triggered by a single alert, Torq AI operates with a unified, continuously-updated, contextual
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom