Europe was once the world's biggest solar spender, until the region's PV market fell into a structural decline after subsidies were pulled back. Now Europe is on the upswing once again — this time, with far less government spending.

As European countries embrace competitive auctions, the Old World of solar is getting new attention. The region is expected to install 10-17 gigawatts a year through 2022, bringing cumulative installs from 111 gigawatts to 182 gigawatts, according to GTM Research. A good portion of that capacity won't see any direct government support.

Competitive auctions will make solar growth much more sustainable. But will it be enough to make up for the tens of gigawatts of coal and nuke plants closing around the region?

Tom Heggarty, a senior global solar analyst with GTM Research, joins us on The Interchange to grapple with that question. We'll put the new trends into a historical and macro-economic context.

This podcast is supported by Wunder Capital, the easiest way to invest in large-scale solar energy projects across the U.S. With Wunder, you can help finance renewable energy projects while earning up to 7.5 percent annually. Get started here to diversify your portfolio and support American solar projects.

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Recommended reading:

GTM Research: Europe Solar PV Market Outlook 2018
GTM: Here Are Solar’s Next Gigawatt-Scale Markets
GTM: Germany's Course Correction on Solar Growth

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European Solar Rises Again, With Fewer Subsidies

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European Solar Rises Again, With Fewer Subsidies