The surface area of solar thermal collectors in Spain has witnessed consistent growth from 2023 through the forecast period up to 2028. In 2023, the surface area stood at 4.61 million square meters. By 2024, it is expected to reach 4.69 million square meters, indicating a marginal year-on-year increase of approximately 1.7%. This growth trend is expected to continue annually, with a steady year-on-year increase around 1.9% to 2.0% through 2028, reaching 5.03 million square meters. Over the five-year period from 2023 to 2028, the compound annual growth rate (CAGR) is estimated to be 1.8%.
Future trends to watch for include technological advancements in solar thermal systems, government incentives or subsidies aimed at renewable energy adoption, and the potential impact of global supply chain dynamics on the availability and cost of materials. Additionally, market participants should monitor evolving regulatory frameworks and standards that could influence market dynamics and adoption rates.
