Key Market Indicators
Germany's geothermal energy consumption is projected to surge to 25,200 terajoules by 2028, up from 19,200 terajoules in 2023, marking an average annual growth rate of 4.3%. Since 2008, the country's demand has increased by an average of 8.7% annually. In 2023, Germany ranked fourth in geothermal energy consumption, with France leading at the same level of 19,200 terajoules. Iceland and France occupied the second and third spots, respectively. In terms of geothermal energy generation, Germany is anticipated to reach 7,000 gigawatt-hours by 2028, climbing from 5,300 gigawatt-hours in 2023, reflecting a compound annual growth rate (CAGR) of 4.3%. Since 2008, the supply has seen an annual increase of 8.7%. Germany also ranked fourth in geothermal energy generation in 2023, with France again ahead at 5,300 gigawatt-hours. Iceland and France held the second and third positions, respectively, in this ranking.
