EU Solar Expansion Faces First Downturn in a Decade

The European Union's ambitious solar energy expansion is poised for its first downturn in over ten years, according to industry data released on Thursday. The decrease comes as some governments have decided to cut subsidies specifically for rooftop solar panels.

This trend underscores a larger shift in political priorities across Europe, as member states divert funds to bolster defense and domestic industries amidst broader economic pressures. Industry experts predict a 1.4% reduction in new solar installations by 2025, signaling a marked slowdown in growth compared to previous years.

While solar energy accounted for a record 22% of the EU's electricity in the past month, the lack of support and reduced installation rates, particularly in Germany, France, and the Netherlands, pose significant challenges. Analysts warn that the EU could miss its climate and energy independence targets without renewed commitment to solar expansion.

(With inputs from agencies.)