In 2023, Spain's renewable power consumption stood at 1.12 Exajoules. The forecasted data from 2024 to 2028 indicates a consistent annual growth in renewable power consumption. From 2024 to 2025, the consumption is expected to increase by 4.27%, from 2025 to 2026 by 4.10%, from 2026 to 2027 by 3.15%, and from 2027 to 2028 by 3.05%. Over the last two years, growth rates have slightly tapered, showcasing a stable but gradual increase. The compounded annual growth rate (CAGR) over the next five years is anticipated to be around 3.63% per year.
Future trends to watch for:
- Technological advancements in renewable energy sources and storage capacities.
- Government policies and incentives to drive renewable energy adoption.
- Shifts in energy demand and consumer behavior towards sustainability.