In 2023, the Solar Photovoltaic Gross Inland Consumption in the UK stood at 1.42 Million Tonnes Of Oil Equivalent (MTOE). The forecasted data from 2024 to 2028 indicates a consistent upward trend in solar photovoltaic consumption, increasing annually from 1.49 MTOE in 2024 to 1.75 MTOE in 2028.
Year-on-year variations show a stable growth pattern:
- 2024-2025: 4.7%
- 2025-2026: 3.8%
- 2026-2027: 4.3%
- 2027-2028: 3.6%
The Compound Annual Growth Rate (CAGR) over the 5-year period (2024-2028) is 4.3%, indicating a robust average annual increase in solar photovoltaic consumption.
Future trends to watch for include advancements in solar technology, government energy policies and incentives, and the broader adoption of renewable energy initiatives, which could further accelerate the growth in solar photovoltaic consumption in the UK.
