Key Market Indicators
Russian solar energy consumption is projected to climb to 0.04 exajoules by 2028, up from 0.03 exajoules in 2023. This represents an average annual growth rate of 6.6%. Since 2019, the demand for solar energy in Russia has surged by 34.1% annually. In the global rankings for 2023, Russia was positioned at 16th place. Austria surpassed Russia with a consumption of 0.03 exajoules. Leading the ranking were Spain, Italy, and France, coming in at second, third, and fourth places, respectively. On the capacity front, Russian solar capacity is anticipated to reach 3,070 megawatts by 2028, rising from 2,030 megawatts in 2023. This marks an average annual growth rate of 6.5%. Since 2015, the solar supply in Russia has grown by 30.6% each year. In 2023, Russia was ranked 19th globally in terms of solar capacity, with Bulgaria surpassing it at 2,030 megawatts. The Netherlands, Italy, and Spain secured the second, third, and fourth spots in this ranking, respectively.
