Market Size of Denmark Solar Energy Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 10.00 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Denmark Solar Energy Market Analysis
The market for solar energy of Denmark in terms of installed capacity is expected to grow at a CAGR of more than 10% during the forecast period of 2020 - 2025. Factors such as encouraging government policies and pressure to meet power demand using renewables to decrease dependency on fossils are expected to create a large market for the solar industry. With the advancement in technology and increasing competition in the market, the installation and operational cost has dropped, which can open opportunities for small investors and companies. On the contrary, high initial investment, intermittent energy source, and requirement of large installation areas to set up solar farms are restraining the market from growing.
- With a capacity of around 1000 MW capacity of Denmark, in 2019, the installation of Photovoltaic solar panels is expected to grow significantly, whereas Concentrated Solar Power is yet to develop in the future, with a minimal share, in 2019.
- With investments of tech giants like Google, which is going to invest in five solar projects in Denmark with a collective capacity of more than 150 MW, the share of solar energy is expected to increase considerably.
- In April 2018, the Danish government launched an energy initiative 'Energy- for a green Denmark. Under which government is planning to increase renewable share and reduce the percentage of coal from the energy sector of Denmark.
