Analyzing the forecasted data for solar thermal gross electricity production in Spain from 2024 to 2028, we notice a consistent annual increase. The production starts at 22.88 thousand terajoules in 2024 and reaches 26.88 thousand terajoules in 2028. This suggests a stable upward trend in solar thermal electricity generation.
In 2023, the actual production stood at 21.87 thousand terajoules. The year-on-year percentage increase from 2023 to 2024 is approximately 4.61%. The subsequent year-on-year increases are roughly: - 2025: 4.41% - 2026: 4.23% - 2027: 3.98% - 2028: 3.82%
The compound annual growth rate (CAGR) from 2024 to 2028 is about 4.26%, indicating a strong and stable growth rate for solar thermal electricity production in Spain.
Future trends to watch for include advancements in solar thermal technology, potential increases in government incentives for renewable energy, and the impact of European Union energy policies on market dynamics. These factors could further influence Spain's solar thermal electricity production trajectory.