European solar PV lobby association SolarPower Europe (SPE) and EIT InnoEnergy have launched the European Solar Initiative (ESI) to propel Europe towards reaching 20 GW annual solar PV production capacity by 2025. Supported by the EU's European Institute of Innovation and Technology (EIT), InnoEnergy acts as an accelerator of sustainable energies in Europe.
Backed by the European Commission, the ESI will aim to capture the growing demand for solar PV in the region currently estimated at 20 GW annually for the next decade, while advancing EU's climate targets and economic recovery as outlined in the European Green Deal. It will scale up the PV manufacturing industry in Europe across the value chain, from raw materials to recycling.
The promoters estimate this focus on PV manufacturing to create an additional €40 billion GDP annually while creating 400,000 direct and indirect jobs.
"The mix of National Energy and Climate plan demand, low cost of capital, notable successes in European technology development and a return of investment into the sector has created fertile ground for a rebirth of European PV," said EIT InnoEnergy CEO Diego Pavia. "Europe has learnt from its previous experiences and with the Green Deal's powerful, unambiguous political and business framework in place, scale and speed are going to be the key to unlocking PV's potential."
SPE says the ESI is designed with public and private financing institutions along with core industrial players to draw on the successes of the European Battery Alliance investment platform launched by EIT InnoEnergy in 2019, and on the experience of the Solar Manufacturing Accelerator initiative launched in May 2020 (see SPE Launches Solar Manufacturing Accelerator Platform).
The creation of ESI is announced soon after Swiss/German equipment maker turning solar cell/module manufacturer Meyer Burger and Europe's largest inverter producer SMA Solar released a whitepaper in December 2020 to pitch for 20 GW Made in Europe Industrial Strategy for integrated solar PV manufacturing (see Joint Push For 20 GW European Solar Manufacturing).
Before that, a Capgemini report recommended developing 19 GW annual solar module production capacity for Europe by 2030 (see 19 GW Annual Solar Module Capacity For Europe By 2030).