Geothermal and biomass energy consumption in China has shown substantial growth from 2013 to 2023, rising from 0.43 to 2.28 exajoules. The year-on-year growth rates reflect major increments, notably in 2017 (28.01%) and 2021 (22.4%). The compound annual growth rate (CAGR) over the last five years (2023's value compared with 2018) is 16.22%, indicating robust expansion.
For the forecasted period from 2024 to 2028, the growth rate is expected to moderate. The forecast CAGR over this period is 6.05%, leading to an anticipated consumption value of 3.35 exajoules by 2028. This suggests that while growth will continue, it will likely do so at a more measured pace compared to the previous decade.
Future trends to watch for include technological advancements, government policy shifts favoring renewable energy, and increased investment in sustainable energy infrastructure. These factors will be critical in sustaining and potentially accelerating growth in geothermal and biomass energy consumption in China.