Over the years, the solar energy capacity in Belgium has shown consistent growth. Starting from 2.9 Thousand Megawatts in 2013, the capacity reached 7.77 Thousand Megawatts in 2023. This signifies an annual growth rate fluctuating between 3.87% and 20.19%, with a Compound Annual Growth Rate (CAGR) of 14.19% over the last five years. The year-on-year variations show a higher increase in particular years, such as 2019 (15.92%) and 2020 (20.19%). From 2024 onwards, it is forecasted that the capacity will continue to grow, reaching 11.99 Thousand Megawatts in 2028, at a forecasted five-year CAGR of 6.8%, reflecting an overall increase of 38.96% during this period.
Looking towards future trends:
- Technological advancements in solar energy efficiency and storage.
- Government policies and incentives promoting renewable energy.
- Investment opportunities in solar infrastructure by private sectors.
- Integration of solar power with other renewable energy sources.
