Forecast: Share of Renewable Electricity Generation in Thailand

From 2013 to 2023, the share of renewable electricity generation in Thailand increased from 8.28 to 9.43 in terms of total electricity output. The year-on-year variation showed a consistent upward trend, with rates ranging from -1.35% in 2013 to 1.09% in 2023. The Compound Annual Growth Rate (CAGR) reflected similar growth, peaking at 8.76% in 2015, and then stabilizing to around 1.17% by 2023.

From 2024 onward, forecasts indicate a continuation of this gradual increase, with the value expected to reach 9.91 by 2028. The five-year forecast CAGR stands at 0.78%, representing a 3.99% growth rate over this period. Notably, this suggests a deceleration in growth compared to previous years.

Future trends to watch for include the incorporation of emerging renewable technologies, changes in government policy or subsidies affecting renewable investments, and broader economic factors influencing electricity generation demands and sustainability initiatives.