Key Market Indicators
Cyprus is projected to see its solar energy consumption reach approximately 0.01 exajoules by 2028, according to recent forecasts. This marks a steady growth from the 0.01 exajoules consumed in 2023, translating to an annual compound growth rate of 10.8%. Since 2019, Cyprus has experienced a significant surge in solar energy demand, with a year-on-year increase of 28.5%. In the rankings of solar energy consumption for 2023, Cyprus held the 22nd spot. Estonia narrowly surpassed Cyprus, also at around 0.01 exajoules. Spain, Italy, and France led the European countries in solar energy consumption, securing the second, third, and fourth positions, respectively.
