Solar Power Cuts EU Gas Import Costs by €20 billion

The war that began in the Middle East in early 2026 drove up global natural-gas prices, raising the cost of the European Union’s gas purchases. In response, the EU accelerated deployment of photovoltaic (PV) installations, aiming to reduce reliance on imported fossil fuels and bolster energy security.

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

SolarPower Europe’s analysis covering 1 March – 15 July 2026 shows that solar generation displaced billions of cubic metres of imported gas, delivering average daily savings of €146 million. Over the 137-day period this amounts to roughly €20 billion in avoided gas-import costs—more than France’s daily defence spending (? €143 million). In June 2026 solar produced a record 52 TWh, representing 25 % of the bloc’s electricity generation and making solar the EU’s largest single power source for the month, ahead of nuclear, gas, wind and hydro.

EU solar boom cuts gas import costs by EUR 20 billion since Middle East war beganSolarPower Europe: Solar PV Saved EU €20 Billion in Gas Import Costs, Became Largest Electricity Source in JuneEurope resolves gas shock from the Middle East thanks to special energy sources

Walburga Hemetsberger, CEO of SolarPower Europe, emphasized that each megawatt-hour of solar electricity “reduces Europe’s dependence on imported fossil fuels while strengthening regional energy security.” She added that deeper electrification, expanded renewable capacity and non-fossil flexibility solutions such as battery storage are essential to shield Europe from future price shocks and to secure long-term energy stability.

SolarPower Europe: Solar PV Saved EU €20 Billion in Gas Import Costs, Became Largest Electricity Source in JuneEU solar boom cuts gas import costs by EUR 20 billion since Middle East war beganEurope resolves gas shock from the Middle East thanks to special energy sources

• “We can go further and faster. Deeper electrification, more renewable generation, and non-fossil flexibility solutions such as battery storage are the answer. Combined, they can shield Europe from the risk of future fossil fuel price shocks, and that’s the route to long-term energy security in the EU” — Walburga Hemetsberger, CEO, SolarPower Europe

EU solar boom cuts gas import costs by EUR 20 billion since Middle East war began

• “Solar was the EU’s largest single source of power in June Solar generated a record 52 TWh of EU electricity in June 2026, making up 25% of monthly generation for the bloc.” — SolarPower Europe report

EU solar boom cuts gas import costs by EUR 20 billion since Middle East war began

• “4 billion USD) in gas import costs since the conflict broke out in the Middle East.” — SolarPower Europe statement

Europe resolves gas shock from the Middle East thanks to special energy sources

• “According to SolarPower Europe, this achievement continues an important milestone when solar power became the EU's largest source of electricity in June, accounting for about 25% of the bloc's total electricity output.” — SolarPower Europe statement

Europe resolves gas shock from the Middle East thanks to special energy sources