Solar Supply Glut Cuts EU Green Energy Import Costs

The total value of European Union imports of green energy products (solar panels, biofuels and wind turbines) fell by 22% between 2024 and 2025, while the value of exports of green energy products dropped by roughly 13%.

According to an October 20 release from the European Union, that dropoff was largely due to a 27.7% decline in the cost of solar panels, with actual import volumes of the product falling by a more modest 4%. The International Energy Agency linked falling solar panel prices to a supply glut in China, which supplied more than 98% of EU solar panel imports last year.

At the same time, the value of imports of wind turbine equipment increased by 40.6%, while the volume of wind turbine machinery rose by nearly 70%. Again, the discrepancy was accounted for by falling prices. China overtook India as the EU’s largest wind turbine supplier, accounting for 59.6% of imports by value in 2025, up from 41.3% a year earlier.

In 2025, for the first time, wind and solar generated more electricity in the EU than fossil fuels, according to the European Electricity Review published by think tank Ember on January 22, 2026. Wind and solar generated a record 30% of EU power, ahead of fossil fuels at 29%.

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