Key Market Indicators
**Portuguese Solar Energy Consumption to Surge by 2028** Portugal's solar energy consumption is projected to reach 0.07 exajoules by 2028, up from 0.04 exajoules in 2023. This represents an average annual growth rate of 10.6%. Since 2014, the country's demand for solar energy has increased by approximately 29.2% each year. In 2023, Portugal ranked 12th globally in solar energy consumption, with Switzerland slightly ahead at 0.04 exajoules. Leading the rankings were Spain, Italy, and France, occupying the second, third, and fourth positions respectively. **Portuguese Solar Capacity to Expand Significantly** Portugal's solar capacity is expected to soar to 7,680 megawatts by 2028, a significant rise from 3,410 megawatts in 2023. This growth translates to a compound annual growth rate (CAGR) of 12.4%. Since 2001, the country's solar supply has seen an annual increase of 38.6%. In 2023, Portugal was ranked 14th in terms of solar capacity, with Sweden narrowly surpassing it at 3,410 megawatts. The Netherlands, Italy, and Spain held the second, third, and fourth positions in the global rankings.
