Key Market Indicators
Swedish solar capacity is projected to surge to 8,400 megawatts by 2028, an impressive leap from the current 3,600 megawatts recorded in 2023. This growth represents an average annual increase of approximately 13%. Since 2001, the country's solar supply has seen a remarkable year-on-year growth rate of 53%. In 2023, Sweden ranked 13th globally in terms of solar capacity, with Austria narrowly ahead at 3,600 megawatts. The Netherlands, Italy, and Spain occupied the second, third, and fourth positions, respectively, in this global ranking. On the consumption front, Swedish solar energy usage is expected to double, reaching 0.08 exajoules by 2028 from 0.04 exajoules in 2023. This marks an average annual growth rate of 13.3%. Since 2020, the demand for solar energy in Sweden has increased by 54.3% annually. In 2023, Sweden was ranked 14th in solar energy consumption, with Ukraine slightly ahead at 0.04 exajoules. Spain, Italy, and France were the second, third, and fourth largest consumers of solar energy, respectively.
