Solar power is the fastest way to reduce Europe’s

(Oslo October 25^th, 2022) The expansion of solar power in Europe is growing rapidly due to increased renewable energy ambitions and the need to reduce dependence on Russian gas. Statkraft’s Low Emissions Scenario now shows that Europe will have significantly more solar power by 2030 than expected before the war in Ukraine.

For the seventh year in a row, Statkraft’s analysts have made a comprehensive analysis of the global energy market towards 2050. Along with wind power, solar power is asserted as the crucial renewable technology to reduce the European Union’s dependence on Russian gas and cut emissions.

Statkraft’s new analysis estimates an average yearly increase of solar capacity in the EU of between 45 and 52 GW towards 2030. This is significantly higher than the 33 GW per year analysts expected before the invasion of Ukraine. It compares to a record 26 GW in 2021. Compared to other renewable energy technologies, solar power is cost-efficient, and construction can take less than two years.

Solar power is seen as the winner in the energy transition. According to the report, it will become the world’s largest source of power generation around 2035.

Statkraft’s Low Emissions Scenario demonstrates that we don’t have to choose between solving the ongoing energy crisis or the climate crisis. The solution to both crises is the same: more renewable energy and more efficient energy use. For many countries, transitioning from fossil fuels to renewable energy also increases their energy self-sufficiency.

“In the Low Emissions Scenario, we see that the best measures to solve the ongoing energy crisis are the same measures that are crucial to fighting the climate crisis. A greater focus on energy security and energy self-sufficiency will also drive the green energy transition,” says Christian Rynning-Tønnesen in Statkraft.

According to the Low Emissions Scenario, renewable energy will account for almost 80 percent of the world’s…