In the past decade, Brazil's geothermal and biomass energy consumption varied significantly. Starting from 0.47 Exajoules (EJ) in 2013, each year showed fluctuations in consumption values. The consumption peaked at 0.68 EJ in 2020, representing a 6.97% increase from the previous year. However, from 2021 onwards, the market saw consecutive declines, reaching 0.60 EJ in 2023—a 0.17% decrease from the previous year. As of 2024, forecasts predict a consistent downtrend, with a projected 0.53 EJ by 2028.
Historical Data Analysis:
- Significant growth in energy consumption till 2020.
- Noticeable decline from 2021 to 2023.
- 5.31% and 5.19% year-on-year decreases in 2021 and 2022, respectively.
- Long-term average growth rate (CAGR) shows a negative trend post-2020.
Forecast Analysis:
- Continued decrease in consumption values from 2024 to 2028.
- 5-year forecast shows an average annual decline of 2.02% and an overall 9.71% reduction by 2028.
Future Trends to Watch for:
- Technological advancements and efficiency improvements in renewable energy sources.
- Governmental policies promoting or hindering renewable energy growth.
- Global market dynamics influencing local energy investments.