Between 2013 and 2023, the solar energy capacity in Spain showed significant growth, rising from 6.99 to 24.18 Thousand Megawatts by the end of 2023. The most noticeable uptick in capacity occurred in 2019 with a year-on-year increase of 57.21%, and successive years such as 2021 and 2022 also saw substantial growth of around 28%. By the end of 2023, the average annual growth rate (CAGR) over the last five years was an impressive 27.89%. The projected data from 2024 to 2028 anticipate a relatively steady annual growth rate of 9.22%, eventually reaching 43.82 Thousand Megawatts by 2028, reflecting a total growth rate of 55.44% over these five years.
Future trends to watch for in Spain’s solar energy sector include:
- Technological advancements driving efficiency
- Government policies and subsidies supporting renewable energy
- Increased private sector investment
- Greater integration with the European grid
