Austria Renewable Energy PV Installation Growth

Photovoltaic (PV) Boom in Austria’s Energy Sector

Austria’s photovoltaic (PV) boom is gaining momentum. Nearly 500 MW of PV came online in Q1 of 2024 according to Austria’s electricity regulator eControl, a 77% increase over the same period in 2023. 

Austria generates a great deal of renewable power, over 85% of the total 73.25 TWh generated in 2023. Much of that is large hydropower (around 60%), but in the past several years, wind has grown to 11% and PV to over 7%.

Most of Austria’s recent PV growth is in the residential segment, which accounts for over 90% of the added capacity. Drivers are the high electricity prices after the Russian invasion of Ukraine in 2022, falling PV module prices, increasing numbers of companies offering a full-service installation, and the generous federal and regional incentive programs that cover a significant portion of the initial investment. 

To reach their goal of carbon neutrality by 2040, however, Austria will need to increase the 5.2 TWh currently generated by PV to 32.6 TWh. This exceeds the maximum calculated capacity of rooftop installations, requiring more capacity to come from non-residential sources. It will also present a significant challenge for grid operators, who will need to upgrade their networks to successfully manage increasingly distributed generation. 

What does this mean for U.S. vendors in the PV and smart grid space? Expect increased demand for PV modules and the software that runs them, innovative PV solutions that allow people to hang electricity-generating blinds and balcony awnings, smart (bi-directional) electricity meters, home battery storage systems, home EV chargers, as well as equipment and software for the modernization and digitalization of existing electricity grids. 

To learn more about the Austrian market, find distributors for your products, or bid on government tenders, please contact Marta Haustein at marta.haustein@trade.gov.