Key Market Indicators
British solar capacity is projected to reach approximately 16,200 megawatts by 2028, up from around 14,900 megawatts in 2023. This growth represents an average annual increase of 1.2%. Since 2001, the UK's solar supply has risen at an average annual rate of 2.7%. In 2023, the country ranked sixth in solar capacity, with France surpassing the UK at the same 14,900 megawatts mark. The Netherlands, Italy, and Spain occupied the second, third, and fourth spots, respectively. In terms of solar energy consumption, the UK's usage is expected to hit 0.17 exajoules by 2028, up from 0.14 exajoules in 2023. This growth signifies a compound annual growth rate (CAGR) of 2.6%. Since 2016, British demand for solar energy has increased by an average of 2.7% annually. In 2023, the UK ranked sixth in consumption, with the Netherlands overtaking it at 0.14 exajoules. Spain, Italy, and France held the second, third, and fourth positions, respectively, in this ranking.
