Since 2013, Denmark's solar photovoltaic (PV) gross available energy has shown remarkable growth. From a starting value of 1.86 thousand terajoules, the energy output has increased year-on-year (YoY) and achieved substantial compound annual growth rates (CAGR). By 2023, the value stood at 5.53 thousand terajoules, reflecting an 8.02% YoY increase from 2022. Over the past five years, the average annual growth was approximately 10.01%.
From 2024 onwards, the forecasted data predicts continued growth, with the energy output reaching 7.52 thousand terajoules by 2028. This signifies an average annual growth rate (CAGR) of 4.85%, showing a relatively steady increase in solar PV energy availability. Over the forecasted period, an optimistic growth rate of 26.7% overall is anticipated.
Future trends to watch for:
- Technological advancements leading to higher efficiency in solar PV systems.
- Potential governmental policies and incentives promoting renewable energy adoption.
- Public and private sector investments in expanding solar PV infrastructure.
- Impact of global supply chain fluctuations on solar technology components.
