Market Report
Southern Europe solar PV outlook 2022
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Report summary
This regional report analyses the 10-year outlook for solar power development in Southern Europe. Solar PV capacity in the region will grow from around 50 GWdc by 2022 to 175 GWdc by 2031, with Spain expected to lead solar buildout across the region. Government tenders remain as the main route-to-market for utility-scale projects, though corporate PPA-procured volumes have been growing rapidly due to the economic competitiveness of solar PV. Meanwhile, 2022 will shatter installation records for distributed PV in Spain, Italy and Portugal due to soaring retail electricity rates and deadlines for rooftop PV subsidies. Beginning with this report, Wood Mackenzie has incorporated more depth and detail on country-specific distributed solar markets in our quarterly regional European reports. We will continue to analyse how policy and economic factors draw increasingly more attention to distributed solar in Europe.
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