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12 percent of EU energy demand by 2020

Current developments in Europe underline both the strength and growth potential of PV solar energy. The European Union (EU) has already set a goal of meeting 20 percent of energy demand through the use of renewable sources by 2020. The European Photovoltaic Industry Association (EPIA), of which REC is a member, has conducted a study, “SET for 2020”, which shows that assuming basic improvements to regulatory conditions, PV solar power could satisfy as much as 12 percent of EU electricity demand by 2020.

Read more: Photovoltaic Power is Poised to Join European Energy Mainstream by 2020.

To put this in perspective, although solar energy makes up just 1 percent of total installed electricity generation capacity in the EU, it accounted for 10 percent of the newly installed capacity for 2008. At such growth rates, which are lower than the astronomic growth that the industry experienced over the past decade, the 12 percent goal is a realistic one.