The renewable power generation in Spain has experienced a dynamic evolution over the last decade. Between 2013 and 2023, there were fluctuations in growth rates, with significant increases noted in recent years. The value in 2023 stood at 1.04 Exajoules. After a period of slower growth and slight declines, there was a marked resurgence from 2019 onwards, culminating in a substantial jump of 5.28% in 2023. The average annual growth rate over the past five years (CAGR) reached 8.88%, showcasing a robust upward trend.
Future trends to watch for include:
- Continued expansion with a forecasted CAGR of 1.76% from 2024 to 2028.
- Potential policy shifts and technological advancements that could accelerate growth beyond current forecasts.
- Increased investment and diversification in renewable energy sources beyond traditional sectors.