Forecast: Total Renewable Energy in Canada

As of 2023, Canada's total renewable energy stood at approximately 50.82 Million Tonnes Of Oil Equivalent. Forecasts predict a steady rise in renewable energy consumption, with projections reaching 52.0 Million Tonnes by 2028. This represents a consistent annual growth, maintaining its momentum over the coming years.

Year-on-year growth is expected to average around 0.47%, while the Compound Annual Growth Rate (CAGR) for the five-year forecast period is approximately 0.45%. These figures highlight a gradual and stable increase, albeit at a moderate pace.

Future trends to watch for include:

• Advancements in renewable technology that could accelerate growth.
• Policies and incentives from the Canadian government promoting clean energy adoption.
• A shift in market dynamics or energy demands that might impact renewable energy growth trajectories.