The solar photovoltaic production in Malta has shown substantial growth over the past decade. In 2023, the production stood at 306.04 GWh. Observing the year-on-year variations and CAGR reveals a pattern of strong, albeit fluctuating growth from 2013 to 2018, with percentage increases ranging from over 133% in the initial years to around 17%. The growth slowed to single digits from 2019 onwards, with production in 2023 increasing by 8.73% over the previous year, reflecting a more mature market. The CAGR of 10% over the last 5 years indicates a deceleration compared to the initial exponential growth phase.
Forecasting future trends to 2028, Malta's solar photovoltaic production is expected to continue growing at a more moderate rate, with a predicted 5-year CAGR of 5.18%. This demonstrates a stable yet slower growth trajectory compared to earlier years, with an overall forecasted growth rate of 28.7% by 2028. Future trends to watch for include advancements in solar technology, policy changes, integration with other renewable energy sources, and developments in energy storage solutions to enhance grid stability.
