Solar Energy Saves Europe Over EUR 110 Million Daily Amid Middle East Conflict
New research from SolarPower Europe reveals that solar energy is delivering significant economic benefits to the European Union, saving more than EUR 110 million per day.
April 02, 2026. By News Bureau
Between March 1 and 17, the EU’s solar fleet generated approximately 19.9 TWh of electricity, reducing reliance on gas-fired power generation. Without solar, meeting this demand would have added nearly EUR 1.9 billion to the region’s fossil fuel import bill, representing a 32 percent increase over the EUR 6 billion already spent on gas imports during the same period.
Total savings for March 2026 have reached EUR 3.77 billion, underlining the growing importance of solar power in Europe’s energy mix. According to the analysis, continued volatility in gas prices could push total savings from solar energy to nearly EUR 67 billion for the full year.
Looking ahead, SolarPower Europe estimates that cumulative savings could reach EUR 170 billion by 2030 under its medium solar deployment scenario. This projection, however, falls short of the EU’s official solar targets, indicating that more ambitious expansion and supporting infrastructure could unlock even greater economic and energy security benefits.
Walburga Hemetsberger, CEO of SolarPower Europe, 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 the 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, 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,” Acke added.
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