Doubling Hungarian PV Market Capacity by 2030: What Will it Take?

Solarplaza Summit Hungary to explore the next phase of growth for solar and storage

ROTTERDAM - 21 May 2024 - Crushing its original 2030 solar target six years early, Hungary has doubled its ambitions and is aiming for 12 GW of PV capacity by the end of the decade. Though there is little doubt that this target will be met, the industry will have to overcome significant hurdles to further scale up and will need to bring more energy storage capacity into the mix. The fifth edition of the Solarplaza Summit Hungary will broaden its focus to include both solar and storage developments and will once again provide a crucial meeting place for industry professionals to grow their knowledge and networks.  

In 2023, 1.6 GW of new solar PV capacity was added to the Hungarian power grid, which - by year’s end - hosted over 5.6 GW of solar systems in total. As the market has by now crossed the 6 GW mark, the country has upgraded its solar ambitions. A total of 12 GW of PV capacity should enable the country to cover at least 20% of Hungary’s primary energy demand with renewables. The market is ready to grow and is flush with investment opportunities thanks to its strategic positioning as a European hub for the production of utility-scale batteries, METAR tender rounds, and a growing number of international players exploiting the market potential. Hungary has proven to be an attractive host spot for international developers, independent power producers, and investors. 

However, the additional PV capacity planned for the coming years is being challenged by severe grid issues that limit the expansion of new large-scale power plants alongside uncertainties related to balancing costs. Knowledge and expertise in these matters are essential if you want to enter and continually succeed in the market. Therefore, market players are preparing themselves for an influx of investments into storage solutions, which will boost current business models by adding new revenue streams and profitability channels.

The Solarplaza Summit Hungary Solar & Storage, hosted in Budapest on 27 November 2024 will provide a crucial high-level platform for local and international industry players to connect, and share knowledge and experiences. Hosted for the fifth consecutive year, this refreshed edition will include storage solutions in its scope to provide a much-needed holistic and integrated view of what’s needed for the country’s PV market to grow. The event will provide its attendees with an in-depth market perspective - from and for large-scale developers, IPPs, asset managers and investors - on operational strategies and visions for the Hungarian solar industry. 

Solarplaza Summit Hungary Solar & Storage
27 November 2024 - Budapest, Hungary
International Tickets: Very Early Bird €895, Early Bird €995, Regular €1095, Late Bird €1195
Local Tickets: Very Early Bird €595, Early Bird €695, Regular €795, Late Bird €895
Press contact: [email protected]
More info on our event website