Germany 2024: A spectacular leap towards renewable solar energy

Germany is strengthening its leading position in solar energy, with photovoltaic capacity reaching 92.23 GW by 2024. This development is part of an ambitious strategy to diversify renewable energy sources and meet climate targets.

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Germany continues to strengthen its position as a leader in the solar energy sector, with a significant increase in photovoltaic capacity by 2024. This development comes as the country strives to achieve ambitious targets for renewable energy production.
Installed solar capacity has crossed significant thresholds, testifying to a strong commitment to the energy transition.
Recent data show that Germany installed around 10.2 GW of new solar photovoltaic capacity between January and August 2024, bringing total capacity to over 92.23 GW.
Monthly installations reveal sustained momentum.
In January, 1.25 GW were added, bringing cumulative capacity to 82.19 GW.
In July, a further 1.4 GW were installed, bringing the total to 92.23 GW.
In August, 1.05 GW were added, bringing the total of new installations to 8.99 GW for the first eight months of the year.
This trend indicates not only continued growth, but also a willingness to diversify renewable energy sources.

Geographical Distribution and Project Types

The geographical distribution of solar installations in Germany in 2024 shows a concentration in certain regions.
Bavaria stands out as the most active region, with 1.7 GW of capacity added in the first half of the year.
Other regions, such as Baden-Württemberg and North Rhine-Westphalia, also made significant contributions, each exceeding 1 GW of installations.
This geographical diversity underlines the commitment of different regions to adopting renewable energy solutions.
In terms of project types, rooftop installations, whether residential or commercial, account for the majority of additions.
In January, for example, around 816.5 MW of new capacity came from this segment.
Large-scale projects, often in the form of power purchase agreements (PPAs) or via tenders, complete this landscape.
This combination of projects of different sizes and types allows for greater flexibility and resilience in the energy system.

Long-term objectives and investments

Germany has set ambitious targets for its long-term solar capacity, aiming for 215 GW by 2030, in line with the National Energy-Climate Plan (NECP).
To reach this target, the country needs to install more than 1,574 MW per month until 2030.
This sustained pace is essential to meet the growing demand for renewable energy and reduce dependence on fossil fuels.
Investment in the solar sector continues to grow, supported by government reforms such as “Solarpaket I”.
These reforms favor both large-scale ground-mounted solar power plants and distributed rooftop projects.
In addition, the promotion of “solar-plus-storage” projects enables more stable grid management, by integrating solar production with energy storage solutions.
This innovative approach contributes to the reliability and efficiency of the energy system.

Key players and solar’s share of the energy mix

Several companies play a crucial role in the development and management of solar projects in Germany.
EnBW (Energie Baden-Württemberg AG) is involved in the construction of some of the largest solar parks, such as the Weesow-Willmersdorf solar park.
RWE Renewables focuses on the development of solar-plus-storage projects, while BayWa r.e. specializes in the development, sale and management of solar projects.
Lightsource bp, in collaboration with BP, is also developing solar projects across the country.
Solar energy is playing an increasingly important role in Germany’s energy mix.
In 2023, it accounted for around 10.6% of total electricity production, and with the addition of new capacity, this share should exceed 12% by 2024.
By comparison, wind power, which remains the main source of renewable electricity, accounted for around 25% of the energy mix.
This development underlines the growing importance of renewable energies in the country’s energy strategy.

Financing and Solar Asset Owners

The development of solar projects in Germany relies on a diversified mix of financing.
Infrastructure funds and institutional investors, such as Allianz Global Investors and Munich Re, play a key role in financing these projects.
In addition, long-term power purchase agreements (PPAs) with major technology and industrial companies, such as Google and Amazon, help secure renewable energy sources for their European operations.
This financing dynamic is essential to support the continued growth of the solar sector.
Companies and investors recognize the importance of renewable energy in the energy transition and are committed to investing in projects that meet this growing demand.
Government initiatives and ongoing reforms are also reinforcing this trend, creating an environment conducive to the expansion of solar capacity in Germany.
Recent developments in the German solar sector illustrate a collective determination to achieve ambitious renewable energy targets.
Growing investment, the diversity of projects and the commitment of key companies all testify to a positive dynamic that could transform the country’s energy landscape in the years to come.

The Kuwait Authority for Partnership Projects has launched the tender for the 1.1 GW Al Dibdibah and Al Shagaya Phase III Zone 1 solar project, targeting pre-qualified international companies and consortia.
T1 Energy commits $850 million to build a five-gigawatt photovoltaic facility in Texas, selecting Yates Construction and benefiting from local tax incentives, with 1,800 jobs anticipated by the end of 2026.
The German solar developer has completed the 90-megawatt-peak Postomino photovoltaic park in north-western Poland, integrating it with an existing wind farm’s high-voltage line in a cable-pooling arrangement set to supply electricity to about 32,000 homes.
EDF Renouvelables plans a floating solar plant in Isère by 2027, featuring 70,000 panels integrated with an existing hydroelectric dam, targeting an annual production of 60 GWh.
Scatec ASA finalises financing for its hybrid solar-battery Obelisk project in Egypt, securing $479.1 million from international financial institutions for a planned capacity of 1.1 GW solar and 100 MW storage.
The 800 MW Horizeo photovoltaic project spanning 680 hectares in Gironde awaits governmental authorization linked to France’s Zero Net Artificialization (ZAN) objective to advance permits submitted in early 2024.
Global photovoltaic tracker shipments rose 20% in 2024, driven by India and Saudi Arabia, pushing the United States to a less dominant market position.
Chinese manufacturer Astronergy will supply its ASTRO N8 photovoltaic modules for a solar project developed in Spain by engineering firm GES Siemsa, marking a strategic advance in the European market.
SMEG and the City of Mâcon have started construction of a 6 MWc solar power plant on a former landfill site, with commissioning scheduled for early 2026.
Producer Corsica Sole is inaugurating a 5.4 MWc photovoltaic plant in Cirey-sur-Vezouze on a former industrial site, with 8,700 panels and an estimated annual output of 6.1 GWh.
The Kashgar region has connected over 10 GW of solar projects to the grid, representing more than three-quarters of its total power capacity, initiating the development of a new power system in southern Xinjiang.
U.S.-based Soltage raises $260mn to support the construction of 250 MW in solar and storage projects within a development pipeline exceeding 2 GW.
Origis Energy has closed financing for the Wheatland project in Indiana as part of a $530mn portfolio, in partnership with MUFG and several financial institutions.
Germany’s solar capture price fell to a five-year low in May, driven by rising negative price hours and excess photovoltaic capacity.
Albioma Solaire Guyane has commissioned five photovoltaic plants totalling 1.4 MWc, spread across Mana and Macouria, to strengthen local electricity supply in a region isolated from the national grid.
South African group NOA and Standard Bank have finalised the financing of the 349 MW Khauta South solar site, now the largest developed on a single site in South Africa.
Enfinity Global signed new power purchase agreements for a 420 MW solar portfolio with a US technology company operating in Italy, reinforcing its position in the Italian energy market.
The American solar sector saw strong industrial growth in Q1, but tax and trade uncertainties could hinder its momentum and affect local investments.
Global solar leaders doubled shipments in one year, but combined losses of $4 billion highlight intense margin pressure in the sector.
Growth in the U.S. solar sector is expected to slow by 2030 due to political shifts in Washington directly impacting tax incentives and imposing tariffs on essential materials, creating sectoral uncertainty.