The solar photovoltaic energy supply in Sweden witnessed consistent and substantial growth from 2013 to 2023. In 2023, the supply stood at 8890 terajoules, reflecting a 23.53% year-on-year increase and a CAGR of 43.41% over the past five years. The period from 2013 to 2023 showed significant annual growth rates, peaking in 2015 with a 106.38% increase and generally maintaining high double-digit percentage increases thereafter. Noticeable deceleration began in 2022 and 2023, with growth rates tapering to 30.97% and 23.53%, respectively.
Looking ahead from 2024 to 2028, the forecasted CAGR is 10.26%, indicative of continued, albeit more moderate, growth. The overall projected increase is approximately 62.94% over this five-year horizon. This suggests a maturing market with stabilizing expansion rates as investment and infrastructure catch up with burgeoning market demand.
Future trends to watch for include advancements in photovoltaic technology, grid integration improvements, evolving government policies, and market responses to climate initiatives. Additionally, shifts in global supply chains and raw material availability could significantly impact long-term growth.
