Key Market Indicators
Portuguese geothermal energy consumption is projected to reach approximately 9,400 terajoules by 2028, up from around 8,300 terajoules in 2023. This represents an average annual growth rate of 2%. Historically, since 1995, the demand for geothermal energy in Portugal has seen an average annual decline of 1.2%. In 2023, Portugal ranked fifth globally in geothermal energy consumption. Germany led the way with approximately 8,300 terajoules. Iceland, France, and Germany secured the second, third, and fourth positions, respectively. On the generation side, Portugal's geothermal energy output is expected to climb to around 2,500 gigawatt-hours by 2028, from about 2,280 gigawatt-hours in 2023. This indicates a compound annual growth rate (CAGR) of 1.5%. However, since 1995, the country's geothermal energy supply has decreased at an average annual rate of 1.6%. In terms of geothermal generation in 2023, Portugal also ranked fifth, with Germany surpassing it at approximately 2,280 gigawatt-hours. Iceland, France, and Germany occupied the second, third, and fourth spots in this ranking, respectively.
