Forecast: Geothermal and Biomass Energy Consumption in India

In 2023, India's geothermal and biomass energy consumption stood at 0.5 Exajoules. From 2024 to 2028, forecasted data indicates a steady increase: 0.52, 0.55, 0.58, 0.6, and 0.63 Exajoules respectively. This reflects a compound annual growth rate (CAGR) of around 4.75% over the five-year period. Year-on-year growth rates are consistently around the 5-6% range, indicating a steady upward trend in renewable energy uptake.

Future trends to watch include:

  • Technological advancements improving geothermal and biomass energy efficiency.
  • Government policies and incentives promoting renewable energy adoption.
  • Potential market disruptions like increased competition from solar and wind energy.
  • Infrastructure developments needed to support increased geothermal and biomass energy consumption.

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