Geothermal and biomass energy consumption in Vietnam has experienced minimal growth from 2013 to 2020, with values remaining constant at 0.001 exajoules. A significant increase began in 2021, with consumption doubling and showing a year-on-year growth rate of 100%. This upward trend continued in 2022, doubling again, and in 2023, the value reached 0.006 exajoules, marking a 50% increase from the previous year. The compound annual growth rate (CAGR) over the last five years stands at 43.1%. Forecasts predict that energy consumption will continue an upward trajectory, reaching 0.016 exajoules by 2028 and showing a CAGR of 14.87% over the next five years.
Future trends to watch for include the implementation of more supportive policies, investment in renewable energy infrastructure, and technological advancements in geothermal and biomass energy. These developments could drive further growth and efficiency in the sector.