The solar photovoltaic (PV) energy supply in Denmark exhibited a positive upward trend from 2013 to 2023, growing from 1.86 to 5.53 thousand Terajoules. Year-on-year percentage variations were notably volatile, peaking at 398.3% in 2013 before stabilizing. Over the last two years, the annual growth rate averaged 8.37%. The compound annual growth rate (CAGR) for the past five years stood at 10.03%, reflecting significant expansion in this period.
Looking ahead, forecasted data indicates the supply will continue increasing, reaching 7.53 thousand Terajoules by 2028. The five-year CAGR is anticipated to be 4.86%, with an overall growth of 26.8% over this period.
Future trends to watch:
- Technological advancements in PV efficiency.
- Government policies and incentives for renewable energy.
- Integration with energy storage solutions to manage intermittency.
- Market dynamics affecting investment in solar infrastructure.
