Europe Residential Solar PV Panels Market Regional Highlights -

The Europe residential solar photovoltaic (PV) panels market was valued at USD 40,273.78 million in 2024 and is anticipated to expand at a compound annual growth rate (CAGR) of 7.6% from 2025 to 2030. Several key factors are fueling this growth across Europe. Chief among them are supportive government policies and incentives, as numerous European nations have set ambitious renewable energy goals and introduced financial support mechanisms to boost solar adoption. Additionally, the declining cost of solar technology has made home installations more accessible and attractive to consumers.

In the United Kingdom, the government has committed to achieving a net-zero electricity grid by 2035 and phasing out fossil fuels for energy production. To meet this target, the UK has introduced favorable regulations. Notably, in January 2022, the government reduced the value-added tax on residential solar PV systems by 5%, promoting wider adoption of solar power in homes.

Country-Specific Insights: United Kingdom
The UK led the Europe residential solar PV panels market in 2024, accounting for the largest revenue share at 16.67%. The market’s momentum in the UK is driven by high wholesale electricity prices, prompting homeowners to seek more cost-effective solutions like solar energy. In addition, a supportive policy landscape—including the removal of the ‘solar tax’ and implementation of automatic compensation for surplus energy—has encouraged greater uptake of residential solar installations.

Furthermore, the rising cost of electricity generation using fossil fuels, combined with commitments to reduce greenhouse gas emissions, is expected to accelerate market growth. Across Europe, governments have enacted favorable regulations and incentive programs to promote residential solar PV usage. Increased EU funding aimed at advancing solar PV research, development, and manufacturing is another major growth driver in the region.

Low-interest, tax-free loans have been introduced to motivate homeowners to invest in solar systems. Those who produce more energy than they use can sell the surplus back to power providers at rates of up to USD 0.203 per kWh.

Get a preview of the latest developments in the Europe Residential Solar PV Panels Market! Download your FREE sample PDF today and explore key data and trends

Key Players in the Europe Residential Solar PV Panels Market
The European residential solar PV panels market is highly competitive, with a strong presence of local, regional, and global suppliers. The industry is shaped by intense competition, technological innovation, evolving policies, and strict environmental standards. Companies compete based on cost, quality, reliability, and post-sales services. To succeed, vendors must deliver efficient and affordable solutions in a dynamic market landscape.

Leading Companies in the Market Include: