Market Size of Austria Solar Energy Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Market Volume (2024) | 4.46 gigawatt |
| Market Volume (2029) | 9.98 gigawatt |
| CAGR (2024 - 2029) | 17.47 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Austria Solar Energy Market Analysis
The Austria Solar Energy Market size is estimated at 4.46 gigawatt in 2024, and is expected to reach 9.98 gigawatt by 2029, growing at a CAGR of 17.47% during the forecast period (2024-2029).
The outbreak of COVID-19 negatively impacted the market. Currently, the market has reached pre-pandemic levels.
- The primary drivers of the market include the soaring demand for clean energy, efforts to curb GHG emissions, and favorable government policies to stimulate the deployment of solar panels. The planned new renewable energy law helps cover rising energy demand with solar power by replacing fossil fuels.
- Increasing adoption of alternative renewable energy courses like wind, hydro, and bioenergy is expected to restrain the market growth during the forecast period.
- According to Austria's National Energy and Climate Plan (NECP), the Austrian government is committed to installing 1 million PV systems by 2030, a substantial increase from the target of 100,000 roof-mounted PV systems under Mission 2030. Thus, this factor is expected to create ample opportunities for the solar market.
