Three Growth Enablers for Europe’s Renewable Energy Market
There is little doubt that the drivers of renewable energy expansion continue to remain strong. Total installed wind and solar PV capacity is on course to surpass natural gas in 2023 and coal in 20241. Solar PV alone accounts for 60% of all renewable capacity additions through 2025, and wind provides another 30%. Plus, the recent lighting up of the Eiffel Tower in Paris using ‘green’ hydrogen adds to the renewable energy choices available as environmental pressure and political intent drive the renewable agenda forward.
Initiatives such as Europe’s Green Deal alongside growing client expectations and demand for renewable energy continue to underpin growth expectations. Technological innovation is also playing a key role as we transition to a sustainable energy landscape. Overall, renewables are set to account for 95% of the net increase in global power capacity through 20251.
So how can renewable energy companies identify and strengthen potential stress points, so they are in the best position to enable growth?