The volume of primary solid biofuels available for final consumption in Denmark had an overall downward trend from 2013's peak of 11.99 Thousand Gigawatt hours, standing at 11.69 Thousand Gigawatt hours in 2023. This represents a decrease in value by -0.35% year-on-year for 2023. Over the last two years (2022-2023), the variations exhibit slight declines of -0.4% and -0.35% respectively, indicating a steady downward trend. The Compound Annual Growth Rate (CAGR) for the past five years (2018-2023) is approximately -2.1%, emphasizing a steady reduction in volume.
Future trends from 2024 onwards suggest a continued decline in volume, with a forecasted CAGR of -0.19% over the next five years (2024-2028). This implies a gradual decrease and stabilization of biofuel availability.
Future trends to watch for:
- Technological advancements in alternative renewable energy sources.
- Government policy changes affecting renewable energy incentives and regulations.
- Economic factors influencing the cost-effectiveness of biofuel production.
- Shifts in energy consumption patterns and demand fluctuations.