The Solar Photovoltaic (PV) production in Sweden has seen significant growth over the past decade. The actual volume stood at 2,470 GWh in 2023. Year-on-year growth fluctuated, peaking notably at 106.38% in 2015 and gradually stabilizing to 23.53% in 2023. The compound annual growth rate (CAGR) has also shown a downward trend, from a high of 70.59% in 2019 to 43.41% in 2023. As of 2024, the expected CAGR for the next five years is estimated to be 10.26%, signifying a maturing market.
Future trends to watch for include potential market saturation, technological advancements in PV efficiency, government policies on renewable energy, and the integration of energy storage solutions which may influence production growth rates.
