After the Doubling of the German Solar Market Last Year, the Federal Association of the Solar Industry (BSW-Solar) Expects Further Market Growth in 2024. The newly installed capacity of photovoltaic systems is expected to grow by double-digit percentages this year and once again meet the energy policy goals of the federal government, according to the industry association representing the solar and battery storage sectors.

In the first four months of this year, the Federal Network Agency has already registered a newly commissioned solar power capacity of over 5 gigawatts. This represents an increase of around 35 percent compared to the same period last year. The German Solar Industry Association also expects high demand beyond 2024. After the newly installed capacity on Germany's residential rooftops has increased tenfold over the past five years, according to calculations by BSW-Solar, companies are now increasingly focusing on the solar electrification of their commercial rooftops and investing in commercial storage.

The construction of ground-mounted solar parks is also gaining momentum. In the first four months of 2024, the newly installed PV capacity on commercial rooftops grew by 81 percent, and for open-field solar power plants by 74 percent compared to the same period in the previous year.

Solar and storage technology is increasingly becoming the standard," said Carsten Körnig, the Chief Executive Officer of BSW-Solar. After a veritable solar boom in Germany's residential areas, commercial rooftops and low-yield open spaces are now increasingly being electrified with the help of solar technology. "Not least, the rush for solar balcony power plants clearly shows where the journey is heading," he emphasized. The reduction of bureaucracy initiated by the Bundestag now allows the housing industry to also increasingly erect larger solar installations.

The stock of SMA Solar ultimately gained 0.58 percent to reach 41.52 euros in XETRA trading.