The solar photovoltaic electricity production capacity in Belgium has shown consistent growth over the past years, with actual figures for 2023 standing at 510.6 MW. This represents a year-on-year increase of 7.2% from 2022. Observing the trend over the previous two years, the capacity grew by 7.81% in 2022 and 5.04% in 2021. The Compound Annual Growth Rate (CAGR) for the last five years (up to 2023) is approximately 14.9%, indicating a robust upward trend in solar PV capacity expansion.

Future trends to watch for:

A 5-year forecast suggests a 24.75% growth in capacity, with an average annual growth rate (forecasted CAGR) of 4.52%.
Advancements in solar technology and potential regulatory changes could further boost capacity growth.
Increased investment in renewable energy initiatives may accelerate the adoption of solar photovoltaics.