The gross electricity production from solar photovoltaic (PV) in Spain for 2024 is projected at 145.28 thousand Terajoules, showing significant year-on-year growth compared to the previous years. The estimated production for 2025 stands at 166.97 thousand Terajoules, representing a robust annual increase. This growth continues consistently over the next few years, reaching 230.72 thousand Terajoules by 2028. The last actual data point from 2023 indicates that prior growth trends have set a strong foundation for these projections. Over the forecast period, the compounded annual growth rate (CAGR) highlights a promising upward trend for solar PV production in Spain.
Variations:
- 2024: 145.28 thousand TJ (Forecast)
- 2025: 166.97 thousand TJ (Forecast)
- 2026: 188.43 thousand TJ (Forecast)
- 2027: 209.68 thousand TJ (Forecast)
- 2028: 230.72 thousand TJ (Forecast)
Future trends to watch for include advancements in solar technology that may enhance efficiency and reduce costs, governmental policies and incentives promoting renewable energy, and the potential impact of European Union initiatives aimed at increasing renewable energy adoption. These factors could significantly influence Spain's solar PV production in the coming years.