Forecast: Solar Energy Capacities in Turkey

In 2023, Turkey's solar energy capacity stood at 11,000 Megawatts, reflecting a significant growth trend over the past decade. From 2013 to 2023, the country's solar capacity increased from 18.7 MW to 11,000 MW, highlighting a dynamic expansion in the renewable energy sector. Notably, the year-on-year variation was robust, with notable leaps: 509.76% in 2015 and 310.28% in 2017, before stabilizing around 20% in recent years. On average, the compound annual growth rate (CAGR) over the last 5 years was 16.79%. From 2023 onwards, projections show a continued increase, though at a slightly moderated CAGR of 8.24% up to 2028.

Future trends to watch for:

• Advancements in solar technology and efficiency enhancements.
• Government policies and incentives supporting renewable energy.
• Potential integration with energy storage solutions to enhance grid stability.
• Involvement of private sector and foreign investments boosting capacity expansion.