In 2023, Brazil's renewable energy supply excluding solid biofuels stood at a percentage of Total Primary Energy Supply. Moving into forecast data, a gradual and steady growth is observed starting from 22.19% in 2024, increasing annually by roughly 0.14 percentage points to reach 22.74% by 2028. The year-on-year increases are modest but consistent, reflecting Brazil's potential to enhance its renewable energy infrastructure. Over this five-year forecast period, the Compound Annual Growth Rate (CAGR) is anticipated to be minor yet stable, indicating a commitment to renewable energy expansion efforts.
Future trends to watch include:
- Technological advancements in renewable energy sectors, which may accelerate growth rates.
- Government policies and incentives aimed at increasing renewable energy investments.
- Global energy market dynamics impacting Brazil's renewable energy strategies.
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