Forecast: Share of Renewable Electricity Generation in North America

From 2013 to 2023, the share of renewable electricity generation in North America increased from 19.4 units to 22.03 units of Total Electricity Output. This period saw an average annual growth rate (CAGR) of approximately 1.21%. Year-on-year growth rates have displayed a gradual decline, from 4.22% in 2013 to 1.14% in 2023.

Forecasted figures from 2024 to 2028 project the share growing from 22.27 units to 23.2 units, with a five-year CAGR of 0.82%. This suggests a continued albeit slowed growth rate, increasing only by 4.15% over the period.

Future trends to watch for:

• Technological advancements in renewable energy sources and storage solutions.
• Changes in government policies and incentives towards renewable energy adoption.
• Market competition and investments in renewable infrastructure.
• Impact of changing energy consumption patterns on renewable energy demand.
• Global economic factors influencing energy markets and investment flows.