The solar photovoltaic electricity production capacity in Austria has seen significant growth over the years. From 2013 to 2023, the capacity increased from 626 MW to 4230 MW, demonstrating substantial investment and adoption. The year 2023 saw a year-on-year growth rate of 20.56%, reflecting continued strong expansion although at a slightly decelerated pace compared to the higher growth rates of preceding years. Over the last five years, the compound annual growth rate (CAGR) stood at 23.8%, indicating robust growth momentum.

Future trends to watch for:

The forecast suggests a deceleration in growth rates, with an anticipated 5-year CAGR of 9.35% from 2024 to 2028.
Technological advancements and policy initiatives will likely continue to support the expansion of solar capacity.
The integration of solar PV with energy storage systems might play a critical role in further optimising renewable energy utilization.