Seizing the Opportunities for Solar in Portugal

Photovoltaic (PV) power has a bright outlook in Portugal, which is blessed with abundant solar reserves and a supportive regulatory regime. According to June 2022 figures from the Portuguese Directorate General of Energy and Geology (DGEG), the country has almost 2.2 GW of capacity installed, making it the fastest-growing source of energy in the nation since 2013. 

It is not all plain sailing, however. In August 2022, the analyst firm BloombergNEF noted that much of the capacity awarded in Portugal’s highly oversubscribed first two solar auctions had yet to be installed, likely because of financial problems stemming from rising inflation and equipment costs. Delays in projects led to Portugal losing its crown as one of Europe's top 10 solar markets last year. The country lost out to Denmark, hardly a traditional hotbed of solar activity. 

With the status of the market coming under scrutiny at the Solarplaza Summit Portugal in Lisbon on October 13, 2022, this report looks at the licensing and permitting hurdles facing developers in the country, and the opportunities for growth in the self-consumption and floating solar segments. This white paper features direct insights and quotes from various Portuguese solar experts.