Eastern Europe solar PV outlook 2024 Report

Market Report 19 September 2024

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Report summary

This outlook covers the key solar market drivers and challenges for large-scale development and distributed solar generation in Poland, the Czech Republic, Slovakia, Hungary, Romania, Bulgaria, Russia, Ukraine and the Caspian region. Hitting 205 GWdc by 2033, regional solar cumulative capacity across Eastern Europe, Russia, Ukraine and the Caspian region is set to almost quadruple in the next 10 years. Driven by a growing PPA market, Poland will lead the way, accounting for over 20% of cumulative capacity across the region by 2033. Regional GDP growth and industrial electricity demand expansion prospects look far more promising there than in the rest of Europe. Markets like Romania, the Czech Republic or Slovakia are becoming key priorities for large-scale solar developers looking to expand their portfolios into emerging markets. These countries also count on lucrative capex subsidies, largely supported with EU funds, which are driving growth in residential and C&I solar PV.