As of 2023, the actual value for solar electric power generation at public electric utilities in Canada stood at [insert actual 2023 value]. The forecasted data from 2024 to 2028 shows an incremental and steady rise in generation, increasing from 23.48 thousand kilowatts in 2024 to 25.25 thousand kilowatts by 2028. Year-on-year variations from 2024 to 2025, 2025 to 2026, and so on, exhibit growth rates of approximately 1.9%, 1.9%, 1.8%, and 1.7%, respectively. The compound annual growth rate (CAGR) over this five-year forecast period stands at approximately 1.83%, indicating consistent growth.
Future trends to watch for in solar electric power generation include potential technological advancements that enhance efficiency and reduce costs, government policies and incentives promoting renewable energy, and changes in consumer demand for sustainable energy solutions. Additionally, external factors such as geopolitical events, raw material availability, and global energy market dynamics could significantly impact the forecasted growth.