Norway's renewable power generation for 2023 stood at a substantial level, positioning itself for a period of significant growth from 2024 onwards. Forecasted values indicate a promising upward trend: 0.2 Exajoules in 2024, increasing steadily to 0.3 Exajoules by 2028.
Year-on-year variations from 2024 to 2028:
- 2024 to 2025: 10%
- 2025 to 2026: 13.64%
- 2026 to 2027: 12%
- 2027 to 2028: 7.14%
CAGR (2024-2028): The compound annual growth rate over the five-year period is expected to average around 9.35% annually.
The upward trend in Norway's renewable power generation is indicative of the country's continued focus on sustainable energy. Future trends to watch for include technological advancements in renewable energy, governmental policies favoring green energy, and increased investments in infrastructure to support the transition from fossil fuels to renewables.