Germany's PV System Demand Set for Double-Digit Growth

German demand for photovoltaic power systems is expected to grow at a double-digit rate this year with solar storage system installations by mid-year topping the 2022 total, the BSW solar power association said on Tuesday.
Solar power systems are booming in Europe's biggest economy as consumers seek alternatives to expensive fossil fuels following a drop in Russian supply last year, Money.usnews.com reported.
BSW said it expected new solar power installed capacity this year to be 9-11 gigawatts, up from 7.4 GW in 2022, meaning an increase of up to 49%.
A total output of 5.3 GW of solar power systems were installed in 2021.
Some 159,000 residential solar systems were put in operation in the first quarter, a jump of 146% year-on-year, BSW said, reflecting a jump in orders made last year at the peak of Germany's energy crisis following Russia's invasion of Ukraine and an easing of photovoltaic hardware supply bottlenecks this year.
Private home owner demand for photovoltaic systems and solar storage more than tripled between 2019 and 2022 and one in five home owners plans to install a solar power system in the next 12 months, BSW said.