Solar photovoltaic production in the UK has experienced a significant growth trajectory from 2013 to 2023. In 2023, solar photovoltaic production stood at 16.49 thousand gigawatthours. Notably, the sector saw an outstanding CAGR from 2013 to 2023, marked by a peak of 189.32% in 2014. This growth has tempered in more recent years, with the fifth-year CAGR in 2023 at 5.3%. Year-on-year variations show a declining, albeit positive growth rate, settling at 5.28% in 2023.
Forecasts indicate that solar photovoltaic production will continue to grow, albeit at a slower pace, with a projected average annual growth rate of 3.35% from 2024 to 2028. The cumulative growth over the next five years is expected to be 17.91%, bringing production up to 20.41 thousand gigawatthours by 2028.
Future trends to watch for include technological advancements in solar panel efficiency, potential policy changes favoring renewable energy, and market shifts driven by increasing demand for sustainable energy solutions.
