The Photovoltaic Boom in the European Energy Crisis

In the context of sanctions against Russia, Allemagne, the first economic power in Europe, is facing a serious energy shortage dilemma.

Germany’s energy is mainly dependent on oil and natural gas. And Russia is the main supplier of energy to Germany. Par conséquent, the sanctions have led to a plunge in German energy supply, and energy prices have continued to soar. In May this year, German energy prices rose 87% year-on-year, and natural gas prices rose 148% year-on-year. Some experts expect that by this winter, gas prices in Germany will rise 1-3 fois.

The soaring price of traditional energy in Germany has directly driven a big increase in demand for renewable energy. According to the latest data released by the German Federal Network Agency, in the first half of this year, Germany installed a total of 3.2GW of photovoltaic power generation systems, compared to 2.75GW in the same period last year, an increase of 16.4% year-on-year.

According to the statistics of German institutions, in the first half of this year, Germany’s renewable energy generation accounted for 49% of its total power generation, an increase of 6% year-on-year. En outre, in order to ensure energy security, the German government has formulated a series of plans, requiring that by 2030, its renewable energy generation must account for more than 80% of its total electricity.