1. Why is the Emerging Markets workstream important?
The challenges and opportunities of the energy transition are global in scale and energy demand is rising around the world. This means it is vital for the European PV sector to engage in promising new markets. The Emerging Markets workstream pushes for the reduction of barriers to solar deployment by addressing key regulatory, administrative and bankability challenges in emerging solar markets, unlocking opportunities for European companies and their local business partners.
2. Why should companies join this workstream?
The workstream helps companies to identify and explore opportunities globally through developing market analyses, and engaging with industry, governmental and regulatory stakeholders to shape the business environments in markets with a high potential for solar development. The workstream also helps companies engage with governments and international financial institutions in high-level global renewables platforms, and provides meaningful input on regulatory convergence, investment, market access, trade, and standards to the European Commission, shaping the EU’s energy diplomacy.
3. What are the main opportunities for solar in emerging markets?
We see a huge untapped potential for solar in emerging markets to serve residential, commercial, and industrial sectors. As demand for electricity grows globally, increasing emphasis will be placed on providing affordable and clean energy sources, with emerging markets set to attract 40% of global investment in solar PV energy by the end of this decade. Solar is also forecast to grow faster than any other energy source in the short-term. Despite the recent increase in manufacturing costs and underdeveloped policy frameworks internationally, utility-scale solar PV remains the lowest-cost option for adding new electricity capacity in a significant majority of countries worldwide. With real momentum for renewable policy initiatives globally, the future of Solar PV in emerging markets looks bright.