The Solar Photovoltaic Gross Inland Consumption in Denmark has seen steady growth from 44.5 Thousand Tonnes Of Oil Equivalent (ktoe) in 2013 to 132.2 ktoe in 2023. In recent years, the growth rate has moderated with a year-on-year increase of 8.08% for 2023. The Compound Annual Growth Rate (CAGR) over the last five years stands at 10.04%, indicating a robust upward trend.
Looking forward, the forecasted 5-year CAGR from 2024 to 2028 is 4.96%, suggesting continued but slower growth, culminating in a projected value of 180.89 ktoe by 2028. This period is expected to see a total growth rate of 27.36%, adding significant renewable energy capacity to Denmark’s energy mix.
Future trends to watch for include technological advancements in photovoltaic efficiency, policy shifts towards increased renewable energy targets, and potential impacts of economic fluctuations or climate-related policies on investment in solar energy infrastructure.
