Sweden's solar photovoltaic (< 20 kW) electricity production capacities have seen rapid growth since 2017. The capacity stood at 1270 megawatts (MW) in 2023. The market experienced notable year-on-year variations: 81.73% in 2018, 83.6% in 2019, 56.77% in 2020, 45.22% in 2021, 30.63% in 2022, and 23.26% in 2023. The compound annual growth rate (CAGR) over the past five years was 46.42%. Future forecasts indicate a more moderated growth, with a five-year CAGR of 10.05%, reaching 2,440 MW by 2028.
Future trends to watch for:
- Technological advancements in photovoltaic efficiency
- Government policies and incentives promoting renewable energy
- Integration with energy storage systems
- Development of decentralized, small-scale solar projects
