Europe’s solar power fleet has avoided more than €30 billion in gas import costs in the six months since the outbreak of the Iran War, according to a statement published by SolarPower Europe on September 1, 2026. The association said the savings accelerated over the summer as higher volumes of solar power became available while fossil fuel prices increased.

The financial benefit of solar generation comes amid a period of pressure on Europe’s power system. This summer, heatwaves and droughts reduced the efficiency of some thermal power plants and forced others to shut down. Lower reservoir levels also limited hydropower generation, while reduced cooling water availability affected nuclear generation.

At the same time, extreme temperatures increased demand for air conditioning, contributing to spikes in electricity prices and increasing the burden on European households and businesses, according to SolarPower Europe.

Solar reduces exposure to gas imports

SolarPower Europe CEO Walburga Hemetsberger said solar power has delivered significant financial benefits to Europe since the latest fossil fuel crisis in the Middle East began.

According to Hemetsberger, the Iran War has deepened the disruption in energy markets that followed Russia’s invasion of Ukraine. She argued that Europe’s dependence on oil and gas supplies represents a risky energy strategy, pointing to repeated vulnerabilities affecting pipelines and shipping routes.

“Solar has been delivering huge financial benefits for Europe since the latest fossil fuel crisis in the Middle East began,” Hemetsberger said.

She added that the repeated disruption risks associated with fossil fuel supply routes demonstrate the need for an alternative approach to Europe’s energy system, arguing that solar power should play a central role in reducing this exposure.

The statement from SolarPower Europe therefore links the economic value of Europe’s growing solar fleet with the wider energy-security challenges created by volatile fossil fuel markets and disruptions to oil and gas supply routes.