Key Market Indicators
Macedonian geothermal energy consumption is projected to decline sharply, dropping to roughly 83 terajoules by 2028 from approximately 157 terajoules in 2023. This represents an average annual decrease of about 10%. The demand for geothermal energy in Macedonia has been on a downward trend since 1998, decreasing by an average of 7% each year. In 2023, Macedonia ranked 16th globally in geothermal energy consumption. Slovakia led the ranking with the same consumption figure of 157 terajoules. Iceland, France, and Germany followed in the second, third, and fourth positions, respectively. On the supply side, Macedonian geothermal generation is expected to reach nearly 49 gigawatt-hours by 2028, down from around 52 gigawatt-hours in 2023. This decline translates to an average annual drop of less than 1%. Since 1998, the country's geothermal generation has decreased by an average of nearly 4% per year. In the 2023 rankings for geothermal generation, Macedonia also placed 16th, with Slovakia surpassing it at the same figure of 52 gigawatt-hours. Iceland, France, and Germany again occupied the second, third, and fourth spots in the ranking.
