The forecasted final consumption of geothermal power in Italy from 2024 to 2028 indicates a steady decline. Year-on-year, the consumption is predicted to decrease each year, starting from 4.51 thousand Terajoules in 2024 and continuing down to 4.13 thousand Terajoules by 2028. In 2023, the actual consumption stood at 4.61 thousand Terajoules. Comparing the years 2023 and 2024, there is a noticeable decline of approximately 2.17%. The Compound Annual Growth Rate (CAGR) over the forecasted five-year period from 2024 to 2028 is around -1.71% per year, signifying a consistent downward trend.
Future trends to watch for include:
- Technological advancements in geothermal energy extraction and efficiency.
- Government policies and subsidies that could incentivize or hinder the growth of geothermal energy.
- Market competition from other renewable energy sources such as solar and wind power.
- Public and private investment trends in renewable energy infrastructure.