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BSW Solar Forecasts Demand for Solar To Remain High in 2024 After 85% Annual Installation Increase in 2023

  • BSW Solar says German solar PV installations increased by 14 GW in 2023, with an 85% annual increase 
  • The residential segment accounted for around half of these, having improved by 135% annually 
  • It expects high solar demand to sustain in 2024 with high electricity prices and attractive funding conditions 

The German Solar Industry Association (BSW) says Germany installed a total of around 14 GW of new solar PV capacity in 2023, representing an 85% annual increase. It expects a sustained solar boom in 2024, thanks to the continued rise in electricity prices and attractive funding conditions.  

At the end of November 2023, Germany’s total solar installations in 2023 exceeded 13 GW (see Germany Installed 1.18 GW New Solar In Nov 2023). 

Referring to the Federal Network Agency or Bundesnetzagentur data, the association says the country now has close to 3.7 million PV systems installed that generated 62 billion kWh of solar power in 2023, covering around 12% of the national electricity consumption. 

The number is going to increase in 2024 when the association expects more than 1.5 million private property owners to install a rooftop solar system, according to a survey it conducted via YouGov. 

As per the survey results, 69% of the residential property owners can install a rooftop PV system on suitable rooftops while 16% are already planning to accomplish the same over the next 12 months. 

The residential segment is significant to national PV growth in Germany as the association points out that it grew 135% annually in 2023, accounting for around 7 GW of the total 14 GW installed. Another 4.3 GW was contributed by ground-mounted solar parks with a 40% increase YoY, while the commercial and industrial (C&I) segment installed close to 2.5 GW or 75% more than the previous year.  

Additionally, some 270,000 plug-in balcony solar systems were also installed in 2023, accounting for a little under 2% of the total installed capacity.  

BSW pegs its hopes for further growth in the solar market this year on the promises made in the Solar Package I (see German Federal Government Approves Solar Package).  

“In order for the ambitious growth targets to be achieved in the following years, the reduction in bureaucracy must not come to a standstill,” said BSW Managing Director Carsten Körnig. “Further measures to speed up the process are required in order to upgrade the electricity and heating networks more quickly, to supply them with even higher solar shares and to make them available at any time with the help of larger storage capacities.” 

Source from Taiyang News

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