A rapid expansion of solar power and energy storage across the European Union could prevent up to €223 billion in natural gas imports for electricity generation between 2026 and 2030, according to a new report by SolarPower Europe.
The findings highlight the growing economic and strategic importance of renewable energy as Europe continues to reduce its reliance on fossil fuels amid energy market volatility and geopolitical tensions.
Lower Electricity Prices Through Renewables
The report suggests that accelerating the deployment of photovoltaic systems and battery storage could lead to immediate reductions in electricity costs for both households and businesses.
Depending on the level of renewable energy penetration, wholesale electricity prices across selected EU countries could fall by up to 14%, reaching an average of €63.4 per megawatt-hour under the most ambitious scenario. A more moderate pathway still projects a 7% decrease compared to 2025 levels.
Energy storage is identified as a key factor in stabilizing supply, reducing peak price fluctuations and allowing better use of low-cost solar generation.
Major Savings on Gas Imports
One of the report’s central findings is the scale of avoided fossil fuel imports. In 2025 alone, solar generation prevented an estimated €27.4 billion in natural gas imports for electricity production in the EU.
Looking ahead, annual savings could rise to €44.4 billion under a baseline scenario and up to €53.3 billion with stronger renewable expansion and storage capacity.
Overall, the study estimates that between 2026 and 2030, solar energy could help the EU avoid €223 billion in natural gas imports for electricity generation.
Rising Share of Renewables in the Energy Mix
Under the most ambitious scenario, solar and wind power would supply more than half of the EU’s electricity demand by 2030, reaching around 52%. Total renewable energy could account for up to 68% of electricity production, significantly reducing the role of fossil fuels.
This shift is supported by a major increase in battery storage capacity, which is projected to grow several times over current levels, enabling the system to better manage fluctuations in renewable generation.
Lower System Costs and Greater Stability
The report also highlights a sharp reduction in the overall operating costs of the EU electricity system. Compared to 2025, costs could fall by 29% under a baseline scenario and by nearly 50% under the most ambitious renewable pathway.
This decrease is largely driven by reduced reliance on fossil fuel-based power generation, which currently represents the majority of system operating expenses.
At the same time, the expansion of storage is expected to limit disruptions such as negative electricity pricing, while improving grid flexibility and reliability.
A Shift in Europe’s Energy Future
Researchers conclude that accelerating the transition to solar energy is not only environmentally necessary but also economically advantageous and strategically essential.
By reducing exposure to imported fossil fuels and stabilizing energy costs, large-scale investment in renewables and storage could reshape Europe’s electricity system into a more secure, affordable and resilient network by the end of the decade.
