Based on the provided data, geothermal and biomass energy consumption in East Africa displayed a fluctuating growth pattern between 2013 and 2023. Values rose from a modest 0.037 exajoules in 2013, peaking at 0.076 exajoules in 2023. Notably, during the early years, strong growth was observed, but the trend showed volatility with intervals of negative year-on-year growth, such as in 2020 and 2021. The Compound Annual Growth Rate (CAGR) over the last five years stood at a modest 1.09%, indicating steadier but slower growth than the earlier rapid rises.
Looking ahead from 2024 to 2028, forecasts suggest a moderate upward trend with a 5-year CAGR of 2.18% and a forecasted growth rate of 11.39% over this period. This demonstrates potential for increased energy consumption, although at a slightly accelerated pace compared to the recent past.
Future trends to watch for:
*Technological advancements and their integration into geothermal and biomass energy sectors.
*Government policies and investments aimed at boosting renewable energy adoption.
*Potential market disruptions, such as regulatory changes or innovation breakthroughs in energy storage and efficiency.
*Regional geopolitical stability and its impact on infrastructure development and energy projects.