Netherlands Solar Energy Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

Netherlands Solar Energy Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

The Netherlands solar energy market is expected to register a CAGR of over 10.5% during the forecast period of 2022-2027. The country reported a slowdown in installations when the COVID-19 pandemic first arrived. But the recovery was strong in no time, outpacing 2019 installations during the same period. In addition, Netherlands solar energy capacity in 2020 accounted for around 8% of the total solar energy installed in Europe in 2020. The primary drivers of the market include the soaring demand for clean energy, efforts to curb GHG emissions, and favorable government policies to stimulate the deployment of solar panels. The planned new renewable energy law helps cover rising energy demand with solar power by replacing fossil fuels

Key Highlights

• Solar photovoltaic is expected to have significant growth during the forecast period, on account of its upcoming projects and country's target for solar PV growth.
• The Dutch energy policy is planning to reduce greenhouse gas emissions (GHG) emissions by 49% by 2030 and by 95% by 2050 and for 100% of electricity to come from renewables by 2050. This inturn culminates for the growth of renewable energy deployements in the country and expected to create ample of opportunity for the solar market.
• Increasing renewable energy generation along with government initiatives are likely to drive the market studied during the forecast period.

Key Market TrendsSolar PV Segment is Expected to Hold Significant Market Share

• The Netherlands solar photovoltaic is one of the significant segments in the power generation industry that has an installed capacity of around 10213 MW by 2020. With concern regarding climatic change and the rising air pollution, the government has a roadmap to increase the share of renewable energy such as solar in its energy mix during the study period.
• As of December 2020, the country is able to cover around 6.6% of Dutch electricity demand, and the Dutch solar market has grown 40% year on year in 2020.
• In the last five years, solar PV deployment has accelerated, driven by falling deployment costs and feed-in-tariffs. The key factors are likely to assist the nation in achieving climate neutrality by 2040. As part of this ambitious target, the country pledged to source all its electricity supply from renewable sources by 2030. Hence, it is likely to boost solar PV deployment across the country.
• In April 2021, RWE AG has officially commissioned its first ground-mounted photovoltaic project in the province of Limburg in Netherlands. The project has an installed capacity of 14.7 megawatts and consists of more than 36,000 solar panels.
• Moreover, in October 2021, Twence has commissoned 12.5MW solar PV power project. The project is located in Overijssel, and is able to supply enough clean energy to power 4,350 households. The project has a overall cost of USD 12.912 million.
• Hence, owing to such developments, the solar PV segment is likely to have significant market share during the forecast period.

Governmnet Initives to Support the Market Growth

• The total renewable energy generation in the Netherlands reached 33 TWh in 2020, and the total installed capacity of renewables was 17,678 MW in the same year. Among the renewable energy installed capacity, wind power accounts for 6,600 MW, and hydropower accounts for 37 MW.
• In June 2021, to improve the renewable energy-based generation within the country, the state-run RijkSdienst Voor Ondernemend Nederland Agency (RVO), which manages the subsidy program, has allocated 4,406 MW of renewable energy capacity through the bidding rounds.
• Moreover, in July 2021, the Dutch Ministry of Economic Affairs and Climate Policy has announced that it selected 3,426 PV projects with a combined capacity of 3,535 MW in the second round of its 2020 program. About 1,803 MW of the total will be deployed in 1,120 rooftop PV projects, while ground-mounted and floating PV plants will account for another 1,732 MW of capacity.
• Additionally, in May 2021, Groenleven B.V. a unit of German renewable energy company BayWa re, has completed construction of two floating PV plants with an aggregate capacity of 70.9 MW in the Netherlands. The projects have an installed capacities of 41.1 MW and 29.8 MW and are located in provinces of Groningen and Gelderland.
• Owing to the above point, increase in renewable energy demand is expected to drive the Netherlands Solar Energy Market during the forecast period.

Competitive Landscape

The Netherlands Solar Energy Market is moderately fragmented. Some of the major players include Vattenfall AB, Orsted A/S, AB SOLAR TOTAL., Solarfields Nederland BV and DMEGC Solar Energy.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Please note: This publisher does offer titles that are created upon receipt of order. If you are purchasing a PDF Email Delivery option above, the report will take approximately 2 business days to prepare and deliver.