Is Europe stockpiling the same amount of solar panels?

Europe is stockpiling the same amount of solar panels as it has deployed, a new report has found. According to Rystad Energy's Freedom from Fossil Fuels report, 40 gigawatts (GW) of solar panels are stored in warehouses across the European Union, equivalent to what was installed across the 27-country bloc in 2022.

Are European warehouses struggling to contain Chinese solar panels?

European warehouses are now struggling to contain the growing stockpile of Chinese-manufactured solar PV (photovoltaic) panels, with approximately 40 gigawatts-direct current (GWdc) of capacity, equivalent to the entire continent’s installations in 2022.

How many unsold solar panels will be in EU warehouses in 2023?

Germany-based market research company EUPD Research forecasts that roughly 65 GW of unsold solar panels will be sitting in EU warehouses at the end of 2023. The company provided their estimates to pv magazine in an attempt to quantify the hotly debated projected EU solar module stockpile.

Is there a surplus of unsold solar modules in Europe?

Europe imported approximately 78 GW of solar modules in the first eight months of 2023 which is more than the anticipated installations for the entire year, leading to concerns about a surplus of unsold solar modules in European warehouses.

Is Europe hoarding solar panels?

To be fair, the bloc responded pretty quickly by sourcing gas from other countries and stockpiling it for a rainy day. And, it turns out, Europe was also hoarding mountains of another commodity: solar panels. Some €7bn worth of solar panels — or 40 gigawatts direct current (GWdc) of capacity — are currently gathering dust in European warehouses.

Should Europe buy solar panels?

Currently, it seems Europe is opting for the latter. “Although efforts are underway to build a reliable solar supply chain in Europe, the need for panels now means leaders cannot wait until 2025 or later to buy European,” said Bakke.