European photovoltaics have generated enough electricity since early March to avoid an estimated €10 billion in gas imports, according to SolarPower Europe, with savings averaging €110 million per day.
According to calculations by European PV association SolarPower Europe, European photovoltaic systems have supplied enough electricity since the escalation of the Middle East conflict in early March to theoretically avoid additional gas imports worth €10 billion ($11.6 billion). In March, the estimated savings averaged around €110 million per day.
Gas prices have risen noticeably due to the blockade of the Strait of Hormuz and damage to fossil fuel infrastructure. European gas futures, for example, reached a peak of over €60/MWh in March—double the average of preceding months. By mid-April, prices had fallen to around €38/MWh, before rising again to approximately €52/MWh.
SolarPower Europe notes that €10 billion would be sufficient to install around 8 GW of photovoltaic capacity in the EU, equivalent to roughly 12% of total new capacity installed in 2025.
“While the full costs of the energy crisis have yet to be determined, one thing is already clear: this is a price Europe should not have to pay,” said Walburga Hemetsberger, CEO of SolarPower Europe. She added that the energy crisis triggered by Russia’s invasion of Ukraine has cost the EU a total of €1.7 trillion to date.
In 2025, photovoltaics met 12.5% of Europe’s electricity demand, up from 10.3% the previous year, according to the latest annual report from the Copernicus Climate Change Service, part of the EU’s Copernicus Earth observation programme. The report details how Europe’s and the Arctic’s climate changed over the past year and increasingly also tracks the climate-related transformation of the energy system.
Copernicus experts attribute the increase primarily to expanded photovoltaic capacity, which reached 65 GW in 2025. This was supported by above-average solar radiation in Northwest, Central and Eastern Europe, partly offset by below-average levels across large parts of Southern and Northern Europe. The Copernicus Climate Change Service also cites lower atmospheric aerosol concentrations as a contributing factor, reflecting the impact of air quality regulations.
In 2025, renewable energy sources collectively met 46.4% of Europe’s electricity demand, a similar level to the previous year. Wind energy’s contribution declined from 18.4% to 18%. However, when combined, wind and solar generated more electricity than coal- and gas-fired power plants for the first time.
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