Solar photovoltaic (PV) energy supply in the UK has seen remarkable growth from 2013 to 2023, reaching 1420 Thousand Tonnes Of Oil Equivalent (ktoe) in 2023. From 2019 to 2023, the year-on-year increase has been moderate, varying between approximately 2% and 14%, pointing to a tapering growth trend. The average Compound Annual Growth Rate (CAGR) over the last 5 years stands at around 5.3%. Forecasts for the next five years indicate a less aggressive but steady growth, with a projected 5-year CAGR of 3.35% and an overall growth rate of 17.91% by 2028.
Future trends to watch for include advances in PV technology, government policies promoting renewable energy, and the potential impact of economic factors on investment in solar infrastructure. Continuous technological improvements could increase efficiency and reduce costs, further boosting the adoption of solar energy in the UK.
