- The EU’s existing solar fleet is offsetting more than €110 million of gas imports per day from March 1-17 alone. In the same period, solar has reduced the overall gas import bill by 32%.
- Savings for March 1-31 reached €3.77 billion.
- A surge in the gas price could see the total saving from solar for 2026 reach nearly €67 billion.
- SolarPower Europe’s Medium Scenario for future solar deployment would deliver cumulative savings of €170 billion across the rest of this decade.
- Urgent action, particularly on battery storage and other non-fossil flexibility, is required to offset more natural gas usage and reduce its impact on electricity prices.
BRUSSELS, Belgium (01 April 2026): The EU saved 111.7 million EUR every day in the first 17 days of the Middle East conflict, according to new research from SolarPower Europe. As volatile gas prices rise and solar deployment continues, the savings from avoided fossil fuel imports can grow.
The EU solar fleet generate 19.9 TWh of electricity in the first 2.5 weeks of the war. Meeting that demand with gas-fired generation would have cost 1.9 billion EUR. That’s an extra 32% on top of the 6 billion EUR the Commission estimates was spent on fossil fuel imports in that period.
The cumulative savings for March 1-31 have now reached 3.77 billion EUR.
The total benefit across the remainder of 2026 could reach €67.5 billion if gas prices surge beyond their average price in March 2026. The research uses fossil fuel pricing data from Rystad Energy, SolarPower Europe’s Prime Market Research Partner.
By the end of 2030, the cumulative savings could reach 170 billion EUR. This is based on SolarPower Europe’s Medium scenario, which falls short of the EU 2030 solar target. A more ambitious strategy on both solar deployment and flexibility, could further develop the returns.
Walburga Hemetsberger, CEO of SolarPower Europe (she/her) said,
“Europe is experiencing a second fossil fuel price shock in the space of four years. But the urgency in 2022 has given way to complacency. Solar deployment in the EU flatlined in 2024 and 2025 despite the huge costs created by our energy dependence. This new data is a reminder of how solar is serving Europe today, and the scale of the future benefits to our security and economy.”
The additional use of fossil fuels has a per unit cost, but it also increases the period of times when dominant use of expensive fossil fuels sets the price of all electricity. The merit order system means all power, even that from renewables, on the market at that given time is priced to align with the most expensive source on the network.
Dries Acke, Deputy CEO of SolarPower Europe (he/him) said,
"Accelerating non-fossil flexibility solutions, like battery storage, demand response and flexible grids, should be the absolute priority for EU decision-makers. They should not only look at temporary relief measures but also adopt an emergency action plan that expedites the structural solutions. Battery storage stands out as the swiftest and most effective option to prevent expensive gas from setting electricity prices. That in turn makes electrification and flexibility cheaper for European industry and households."
The full research report, Solar & Storage for EU Energy Security, includes two real world case studies on the impact of the crisis on two solar-enabled business. It also examines the extent to which a shift to SolarPower Europe’s High Scenario for solar deployment could deliver deeper benefits in 2026 and beyond.
Notes
The analysis assumes that any additional solar PV generation in Europe displaces gas‑fired electricity, as gas is currently the marginal and most expensive source of power. Gas prices are drawn from Dutch TTF observations for early 2026 and forward‑looking estimations from Rystad Energy, including a prolonged disruption case for the Strait of Hormuz. Solar generation in 2026 is estimated by multiplying 2025 solar generation data from Ember by the annual growth rate in cumulative installed capacity between 2025 and 2026. Data on additional EU fossil fuel imports taken from a speech by President von der Leyen.
The EU’s top solar markets in Watts per capita 2025
1, Netherlands, "1,582 W/c"
2, Germany, "1,405 W/c"
3, Estonia, "1,335 W/c"
4, Greece, "1,223 W/c"
5, Austria, "1,177 W/c"
6, Spain, "1,155 W/c"
7, Denmark, "1,146 W/c"
8, Hungary, "1,084 W/c"
9, Luxembourg, "1,077 W/c"
10, Belgium, "1,031 W/c"
Copyright: SolarPower Europe, taken from EU Solar Market Outlook 2025-2030
Solar and storage for EU energy security
Amid renewed geopolitical tensions and volatility in global fossil fuel markets, EU energy security remains exposed to external supply disruptions and price spikes. This paper shows how solar PV, combined with storage and other flexibility solutions, can act as a powerful buffer for EU citizens and businesses by reducing energy price volatility and reducing import dependence.
Read the research
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