Forecast: Solar Energy Consumption in Chile

Solar energy consumption in Chile has shown significant growth. In 2023, the consumption stood at 0.17 Exajoules, marking substantial progress from zero in 2013. Year-on-year variations highlight rapid growth in early years, peaking at 225% in 2015 and stabilizing gradually, with a 25.74% increase in 2023. The compound annual growth rate (CAGR) over the last five years reached 28.4%, underscoring a strong upward trajectory.

Looking into the future, the forecast from 2024 to 2028 anticipates continued steady growth with a five-year CAGR of 10.78%, projecting an overall increase of 66.83% over this period. Key trends include increased investment in renewable energy infrastructure, technological advancements, and supportive government policies which will drive further expansion of solar energy consumption in Chile. Additionally, monitoring global energy market dynamics and policy shifts will be critical for future forecasts.