highlights
Portugal is among the best-placed European countries to take advantage of solar power, having achieved a five-fold increase in installed capacity during 2017–2023. In 2023, its National Energy and Climate Plan set an ambitious target for a further eight-fold increase from 2.5 GW to 20.4 GW by 2030.
Any surplus electricity generated by solar panels simply flows into the public power supply at a fixed price, thus producers are never struggling to sell excess electricity.
The great thing about Portugal is that it is not blocked by the sea. It has many land borders, over which large electricity pylons can travel, commuting vital electricity for the whole of Europe.
Portugal’s net zero by 2050 goal is enshrined in law. Its National Energy and Climate Action Plan 2030 is guiding this path towards climate neutrality. A previous goal to reach 80 per cent renewable energy in its electricity production has been brought forward by four years to 2026. This should help Portugal reach net zero a few years earlier than planned: by 2045.
The global solar power market is predicted to grow from USD 184 billion in 2021 to USD 293 billion in 2028 at a CAGR of 6.9% in the forecast period 2021–2028. The demand for this renewable resource is increasing along with population growth and global warming concerns.
Solar power is profitable and soon it will also be mandatory. At the end of last year, the EU approved the final directive on the energy efficiency of European buildings, which specifies key measures for the adoption of solar power. According to this updated directive and its Rooftop Solar Standard, installations of solar panels will be required in all new public and commercial properties by 2026, in renovated public and commercial buildings by 2027, and in all new residential buildings by 2029. Additionally, in existing public buildings, these installations will be phased in gradually by 2030.
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