The Wind Power Gross Electricity Production in Spain stood at 244.06 Thousand Terajoules in 2023. Over the past five years, production has seen a steady average annual growth (CAGR) of 5.9%. Notably, between 2022 to 2023, there was a year-on-year increase of 4.41%, which aligns with the longer-term growth trend observed over the last two years, characterized by a cumulative CAGR of around 5.9% from 2021 to 2023. Prior to this period, growth was more erratic, with alternating years of minor decreases and increases in production.
Looking towards the future, Spanish wind power production is forecasted to grow at a moderate CAGR of 2.95% over the next five years, culminating in a predicted value of 294.04 Thousand Terajoules by 2028. This represents a forecasted five-year growth rate of 15.65% from the 2024 baseline.
Future trends to watch for:
- Technological advancements in turbine efficiency and energy storage.
- Government policies and incentives supporting renewable energy.
- Integration with smart grid systems to enhance stability and reduce wastage.