In 2023, the UK's final consumption of renewables and biofuels in industry stood at 1.47 million tonnes of oil equivalent. The forecast indicates a steady annual increase: 3.40% from 2024 to 2025, 3.82% to 2026, 3.68% to 2027, and 2.96% to 2028. The compound annual growth rate (CAGR) between 2024 and 2028 is approximately 3.40%, highlighting a consistent upward trend.
Future trends to watch for:
- Technological advancements in biofuel production efficiency.
- Government policies and subsidies impacting renewable energy adoption.
- Industrial adaptation to sustainable practices.
- Global market influences on domestic energy strategies.
