The solar photovoltaic energy supply in France has exhibited consistent year-on-year growth from 2013 to 2023, where it stood at 70.64 thousand Terajoules. The growth rate has varied over this period, with notable high growth rates in the earlier years. Specifically, between 2022 and 2023, the year-on-year growth was 10.96%. The Compound Annual Growth Rate (CAGR) for the past five years, ending in 2023, was 12.43%, reflecting robust expansion in the sector.
Looking forward, the forecast from 2024 to 2028 anticipates a continued positive trend in solar photovoltaic energy supply, albeit at a moderating pace with a forecasted 5-year CAGR of 6.15%, expecting an increase to 104.49 thousand Terajoules by 2028, indicating a 34.74% growth rate over the next five years.
Future trends to watch for:
- Technological advancements increasing efficiency and reducing costs of solar panels.
- Government policies and incentives promoting renewable energy adoption.
- Development of energy storage solutions to address intermittency issues.
- Potential impacts of global supply chain disruptions on solar panel availability.
- Integration of solar energy with smart grid technologies.
