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European photovoltaic (PV) systems have helped the European Union avoid additional gas imports worth an estimated €10 billion ($11.6 billion) since the escalation of the Middle East conflict in early March, according to SolarPower Europe.
The association said solar electricity generation across Europe significantly reduced the bloc’s dependence on expensive imported gas during a period marked by heightened geopolitical tensions, disruptions to fossil fuel infrastructure, and the blockade of the Strait of Hormuz.
In March alone, the estimated savings from solar generation averaged around €110 million per day, highlighting the growing role of renewable energy in protecting Europe from volatile fuel markets.
European gas markets witnessed sharp price increases following the escalation of tensions in the Middle East. European gas futures climbed to more than €60/MWh in March, roughly double the average levels recorded in previous months.
Although prices later eased to around €38/MWh by mid-April, they subsequently rebounded to approximately €52/MWh as supply concerns persisted.
The surge in gas prices once again exposed Europe’s vulnerability to external fossil fuel supply shocks, particularly as the region remains reliant on imported natural gas for power generation and industrial consumption.
Walburga Hemetsberger, Chief Executive Officer of SolarPower Europe, said the latest crisis demonstrated the strategic importance of accelerating renewable energy deployment across the continent.
“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,” she said.
Hemetsberger added that the energy crisis triggered by Russia’s invasion of Ukraine has already cost the European Union approximately €1.7 trillion.
According to SolarPower Europe’s estimates, the €10 billion theoretically saved through reduced gas imports would be enough to finance nearly 8 GW of additional solar PV capacity across the European Union.
The association noted that this volume would represent around 12% of the total new solar capacity installed across Europe in 2025, underlining the scale of economic benefits associated with expanding photovoltaic deployment.
The findings come as European policymakers continue pushing for greater energy independence, domestic renewable manufacturing, and faster deployment of clean energy technologies.
Europe added around 65 GW of photovoltaic capacity during 2025, leading to increase in share of solar PV in Europe’s electricity demand in 2025 to 12.5%, up from 10.3% a year earlier.
Renewable energy sources collectively accounted for 46.4% of Europe’s electricity demand in 2025, remaining broadly stable compared to the previous year.
While wind energy’s contribution declined slightly from 18.4% to 18%, the combined output from wind and solar power exceeded electricity generation from coal- and gas-fired power plants for the first time in Europe’s history.
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