Geothermal and biomass energy consumption in South Korea stood at 22 Terawatthours in 2023. Based on the forecasted data, there is a clear upward trend in energy consumption. The year-on-year variations are as follows: a 17.45% increase from 2024 to 2025, 14.29% from 2025 to 2026, 12.08% from 2026 to 2027, and 10.35% from 2027 to 2028. Over the five-year forecast period from 2024 to 2028, the Compound Annual Growth Rate (CAGR) is approximately 13.27%.
Trends to watch for in the future include potential technological advancements in geothermal and biomass energy, governmental policy changes toward renewable energy, and shifts in public and corporate energy consumption patterns. The increasing investments in renewable energy infrastructure could also play a significant role in the anticipated growth of this sector.
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