Argentina's solar energy consumption has shown significant growth in recent years, particularly from 2018 onwards. In 2023, consumption stood at 0.035 Exajoules. From 2019 to 2023, the sector experienced substantial year-on-year variations such as 700% in 2019, 62.5% in 2020, 61.54% in 2021, 33.33% in 2022, and 25% in 2023. The compound annual growth rate (CAGR) from 2018 to 2023 was an impressive 103.62%. Forecasts for 2024-2028 predict a steadier growth trajectory with a forecasted 5-year CAGR of 10.76%, leading to a forecasted value of 0.07 Exajoules in 2028, representing a 66.67% increase over the period.
Future trends to watch for include:
- Potential government policies and incentives aimed at renewable energy.
- Technological advancements reducing the cost of solar energy.
- Corporate investments and international collaborations in solar projects.
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