Geothermal and biomass energy consumption in South Africa has experienced fluctuations, with a notable decline in the mid-2010s, followed by a period of stabilization and gradual increase. As of 2023, the consumption stood at 0.44 Terawatthours. The year-on-year variations have been modest in recent years, with a 1.63% increase in 2023. Over the last five years, the average annual CAGR was 0.28%, indicating a relatively stable trend with slight growth.
Forecasts suggest a steady increase in geothermal and biomass energy consumption, with a 5-year CAGR of 1.1%, leading to a projected consumption of 0.47 Terawatthours by 2028. This indicates progressive but modest growth in the sector.
Future trends to watch for:
- Government policies and incentives promoting renewable energy
- Technological advancements in energy efficiency
- Investment in infrastructure and new projects
- Market demand and global energy price fluctuations