The UK's renewable energy consumption has seen consistent growth from 2013 to 2023, with occasional fluctuations. In 2023, the value stood at 18.23 units of final energy consumption. The past year-on-year growth rates indicate significant annual increases, although the most recent years show a deceleration in growth. The CAGR over the last five years (2019-2023) averaged 12.56%, signaling robust but gradually stabilizing expansion. Looking ahead to 2028, the CAGR is forecasted to settle at 5.64% reflecting a cumulative growth rate of 31.55% over the next five years.
Future trends to watch for include:
- Technological advancements in renewable energy technologies
- Policy changes and government incentives
- Market responses to global economic conditions
- Integration and efficiency improvements in energy storage and grid infrastructure
