SolarPower Europe: Solar PV Saved EU €20 Billion in Gas Import Costs, Became Largest Electricity Source in June

Solar power generation across the European Union has saved an estimated €20 billion in natural gas import costs between 1 March and 15 July 2026, according to a new analysis released by SolarPower Europe.

The industry association said electricity generated from solar installations during the 137-day period displaced billions of cubic metres of imported natural gas, helping strengthen the European Union’s energy security while reducing exposure to volatile fossil fuel prices.

According to the analysis, solar energy delivered average savings of approximately €146 million per day, exceeding France’s average daily defence expenditure. France’s 2025 defence budget of €52.3 billion equates to approximately €143 million per day, highlighting the growing economic value of domestically generated renewable energy.

The findings come shortly after solar became the European Union’s largest single source of electricity in June 2026, accounting for 25% of the bloc’s total power generation.

Walburga Hemetsberger, Chief Executive Officer of SolarPower Europe, said every megawatt-hour of electricity generated from solar reduces Europe’s dependence on imported fossil fuels while strengthening regional energy security. She added that the milestone demonstrates the long-term value of investments in domestically produced renewable energy.

SolarPower Europe said further progress will depend on accelerating electrification, expanding renewable energy deployment, and increasing investments in non-fossil flexibility technologies, including battery energy storage systems.

According to the association, combining higher renewable energy generation with battery storage and other flexible energy solutions can help protect Europe from future fossil fuel price volatility while improving long-term energy security and supporting the region’s clean energy transition.