The solar photovoltaic gross electricity production in Denmark has exhibited substantial growth since 2013, reaching 132.2 Thousand Tonnes Of Oil Equivalent by 2023. This growth is evidenced by a significant increase from 44.5 TOE in 2013, with intermittent periods of sharper rises, particularly evident in years like 2020, which saw a year-on-year increase of 22.55%. The Compound Annual Growth Rate (CAGR) over the last five years stands at 10.04%, indicating robust and steady growth.
Looking ahead to the forecasted data, a slower yet consistent growth pattern is projected, with the CAGR for the next five years estimated at 4.96%, leading to a gross electricity production of 180.89 TOE by 2028. The overall growth rate from 2024 to 2028 is expected to be 27.36%. This suggests a maturation phase where expansion continues but at a decelerated pace compared to previous years.
Future trends to watch for include advancements in solar technology efficiency, potential policy changes enhancing renewable energy incentives, and the impact of energy storage solutions which could further bolster the adoption and capability of solar photovoltaic systems in Denmark.
