Market Size of Spain Solar Energy Industry
| Study Period | 2019- 2029 |
| Base Year For Estimation | 2023 |
| Market Volume (2024) | 34.49 gigawatt |
| Market Volume (2029) | 72.32 gigawatt |
| CAGR (2024 - 2029) | 15.96 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Spain Solar Energy Market Analysis
The Spain Solar Energy Market size in terms of installed base is expected to grow from 34.49 gigawatt in 2024 to 72.32 gigawatt by 2029, at a CAGR of 15.96% during the forecast period (2024-2029).
- Over the medium period, supportive government policies to promote renewable power generation and the declining cost of Solar PV installations are expected to be some of the driving factors for the solar energy market in Spain during the forecast period.
- On the other hand, the increasing adoption of alternate renewable sources such as hydropower, wind and limited grid infrastructure and storage systems are expected to hinder the market growth during the forecast period.
- Nevertheless, with the introduction of the National Energy and Climate Plan for 2021-2030, the government aims to increase the renewable energy share to 42% by 2030. This is expected to create opportunities for solar power companies over the coming years.
