Forecast: Total Renewable Energy in Australia

Australia's renewable energy total primary energy supply has demonstrated steady growth from 2013 to 2023, reaching 9.28 units in 2023. The year-on-year variations have exhibited fluctuations, with notable increased growth rates in certain years, such as 2020, which saw a substantial surge of 15.78%. In the past five years, the compound annual growth rate (CAGR) was 5.69%, indicating a healthy upward trend. The forecasted data from 2024 to 2028 projects a continued increase in renewable energy supply, with a forecasted 5-year CAGR of 3.08% and an overall growth rate of 16.35% by 2028.

Future trends to monitor include technological advancements in renewable energy sources, potential government policy shifts favoring renewable energy investments, and changes in global energy markets that might influence Australia's renewable energy strategies. These factors will be critical in shaping the trajectory of Australia's renewable energy supply in the coming years.