The solar photovoltaic (20 kW - 1000 kW) electricity production capacities in Portugal rose from 122.21 MW in 2013 to 491.36 MW in 2023. Actual data shows a robust upward trend until 2023, with significant growth spikes in 2016, 2019, and moderate growth in 2022 and 2023. The past five years have seen a compounded annual growth rate (CAGR) of 14.13%. The two-year year-on-year variation was 9.82% in 2022 and 8.9% in 2023.
Future trends to watch for include the anticipated slower yet steady growth, with a forecasted CAGR of 5.34% from 2024 to 2028. Renewable energy policy changes, technological advancements, and market dynamics will be key determinants of future capacity expansion.
