In 2023, the Philippines' geothermal and biomass energy consumption was recorded at 0.12 Exajoules. This level of consumption remains steady through the forecasted period from 2024 to 2027 at 0.12 Exajoules annually, marking no year-on-year variation. In 2028, a slight increase to 0.13 Exajoules is predicted, representing a year-on-year increase of approximately 8.33% from 2027. The compound annual growth rate (CAGR) from 2024 to 2028 is modest, underlining a conservative growth trajectory in geothermal and biomass energy consumption.
Future trends to watch for include technological advancements in renewable energy harnessing and utilization, government policies favoring sustainable energy, and investments in infrastructure that could lead to significant increases in geothermal and biomass energy consumption post-2028. Additionally, increasing environmental awareness and climate change mitigation efforts could foster stronger growth rates in subsequent years.