The solar photovoltaic production in Moldova experienced significant growth from 2013 to 2023, rising from 0 Terajoules (TJ) in 2013 to 78.88 TJ in 2023. The compounded annual growth rate (CAGR) over the last five years stands at an impressive 48.84%. Notably, the production doubled between 2021 and 2022 with a year-on-year increase of 59.7%, followed by a 37.2% increase in 2023.
Future trends suggest continuous growth with the solar photovoltaic production expected to reach 184.21 TJ by 2028, exhibiting a forecasted 5-year CAGR of 12.96% and an overall growth rate of 83.92%. This indicates a steady, albeit slower, growth trajectory compared to previous years.
Trend analysis over the past decade highlights several key points:
- Initial slow growth, with significant acceleration starting from 2018.
- A peak year-on-year growth of 150% in 2021.
- Solid growth indicating increasing efficiency and possibly favorable policies.
Future trends to watch for include advancements in solar technology, potential regulatory changes, and the integration of solar power into Moldova's energy grid. Understanding these factors will be crucial for predicting future developments in the sector.
