Key Market Indicators
Ukraine's solar capacity is poised for substantial growth, with projections indicating it will reach approximately 12,900 megawatts by 2028, up from nearly 8,900 megawatts in 2023. This marks an average annual growth rate of 5.8%. Since 2015, the country's solar energy supply has increased by an impressive 34.7% each year. In 2023, Ukraine ranked eighth in solar capacity, with Poland slightly ahead. The Netherlands, Italy, and Spain occupied the second, third, and fourth positions respectively in this ranking. Despite the increase in capacity, Ukraine's solar energy consumption saw a notable decrease. In 2023, consumption totaled around 0.04 exajoules, down from 0.05 exajoules in 2022, representing a 25% decline from the previous year. However, since 2017, Ukraine's solar energy demand has grown by 26.8% annually. In the 2023 rankings, Ukraine was placed 12th, with Portugal just ahead. Spain, Italy, and France held the second, third, and fourth spots respectively in terms of solar energy consumption.
