The solar photovoltaic electricity production capacity in the UK has shown significant growth from 2.94 GW in 2013 to 16.89 GW in 2023. This represents an overall increase in capacity over a decade, underscoring a robust expansion, especially in the early years where year-on-year growth rates were exceptionally high.
In recent years, the pace of growth has decelerated, with the capacity increasing from 13.71 GW in 2020 to 16.89 GW in 2023, demonstrating a compounded annual growth rate (CAGR) of 5.26% over the past five years. Year-on-year variations for 2022 and 2023 were 3.3% and 4.99%, respectively, signaling steady, though modest, annual growth.
Forecasts for the future indicate continued expansion, with expected capacities reaching 20.7 GW by 2028. The forecasted CAGR for the next five years stands at 3.19%, projecting a growth rate of approximately 17.01% from 2024 to 2028.
Future trends to watch for include advancements in solar technology, potential changes in government policies and subsidies, and increased adoption of solar energy in residential and commercial sectors. Additionally, the integration of solar power with energy storage solutions could further enhance capacity growth and grid stability.
