The UK's solar electricity production capacity has demonstrated significant growth since 2013, reaching 16.89 thousand Megawatts by 2023. Between 2013 and 2020, growth rates were particularly robust, with significant year-on-year increases such as 88.22% in 2014 and 73.68% in 2015. The pace of growth slowed considerably from 2017 onwards, with more moderate increases such as 2.09% in 2019 and 3.3% in 2022. The last five-year CAGR was 5.26% leading up to 2023, indicative of a steadier but still positive trend.
Looking forward, the forecast for 2024 to 2028 predicts a more moderate growth trajectory, with a forecasted five-year CAGR of 3.19% and an overall growth rate of 17.01% by 2028, bringing the total capacity to 20.7 thousand Megawatts.
Future trends to monitor:
• The impact of policy changes and government incentives on solar production growth.
• Advances in solar technology and efficiency improvements.
• Increasing integration of solar power with energy storage solutions.
• Economic factors influencing investment in renewable energy infrastructure.
