The UK solar photovoltaic gross electricity production has seen significant growth from 2013 through 2023, where it reached 1420 thousand tonnes of oil equivalent (ktoe). Initial years showed considerable increase with a peak year-on-year growth of over 100% in 2014, while the last two years, 2022 and 2023, posted increases of 11.26% and 5.28% respectively. The five-year compound annual growth rate (CAGR) up to 2023 was approximately 5.3%, reflecting a maturation in growth as installations expanded and efficiencies improved.
Future trends to watch for include:
- Potential technological advancements and cost reductions that could revitalize growth rates.
- Increased government and policy support focused on renewable energy adoption.
- The 2028 forecast suggests a CAGR of 3.38%, indicating further opportunity for expansion albeit at a more moderate pace.