In 2023, Denmark's solar electricity production capacity stood at 2230 Megawatts. Historically, from 2013 to 2023, Denmark has shown strong growth in solar electricity production. Year-on-year variations depict substantial increments, most notably in years such as 2021 and 2020, with growth rates of 30.65% and 20.77%, respectively. Over the last five years, the compound annual growth rate (CAGR) of 17.43% underscores a consistent rise in capacity.
Looking forward, the forecasted data demonstrates ongoing growth with a projected capacity of 3500 Megawatts by 2028. The forecasted 5-year CAGR stands at 7.06%, indicating a steady but slightly decelerated growth trajectory. This translates to an estimated 40.62% overall increase over the next five years.
Future trends to watch for:
- Technological advancements in solar panel efficiency
- Government policies and incentives for renewable energy
- Integration of solar capacities with energy storage systems
- European Union's renewable energy targets and directives
