Rooftop solar installations in Europe have surged since the Middle East war triggered a new oil and gas supply crisis and hiked power prices.
Demand from households and businesses willing to install rooftop solar systems soared in March and continues to rise at even higher rates in April as consumers look to insulate themselves from spiking gas and electricity prices, equipment wholesalers and renewable utilities in Northwest Europe have told Reuters.
Rooftop solar demand in Germany, the Netherlands, and the UK has jumped by between 30% and 50% since the war in the Middle East began on February 28, according to various industry executives who spoke to Reuters.
Sales at Germany’s solar equipment wholesaler Solarhandel24 more than tripled last month and are set to triple again in April, amid soaring demand for rooftop solar, company representatives told Reuters.
Set OilPrice.com as a preferred source in Google .
German solar solutions provider Enpal also reported strong rooftop solar demand driving a 30% jump in orders in March from a year earlier, and expects a further 33% surge in April.
The UK is also looking to boost rooftop solar installations as part of the government’s measures unveiled this week and aimed at breaking the outsized influence of gas prices on electricity prices.
UK firm OVO Energy said in an analysis last month that there are around 13.7 million homes across the UK that are ready for solar panels – nearly half of all residential buildings. If these are installed, they would generate 28.5 terawatt-hours (TWh) of renewable energy every year—enough power to charge all of the UK’s 1.2 million EVs for almost 10 years, OVO Energy says.
Separately, industry association SolarPower Europe has found in research that solar power saved the EU $130 million (111.7 million euros) every day in the first 17 days of the Middle East conflict—savings from avoided fossil fuel imports.
Without solar electricity, the EU’s fossil fuel import bill would have been 32% higher than it currently is, according to the research.
By Tsvetana Paraskova for Oilprice.com
More Top Reads From Oilprice.com
- India’s Manufacturing Rebounds in April Despite High Energy Costs
- Qatar’s $20 Billion LNG Blackout Forces Pakistan Back to the Spot Market
- Russian Oil Resumes Flowing to Slovakia via Druzhba After Three-Month Halt
