The data illustrates the progression of renewable power generation in Canada from 2013 to 2028. As of 2023, the value stood at 0.53 Exajoules. The period from 2013 to 2023 displayed fluctuations with significant growth in early years, particularly with a 56.59% year-on-year increase in 2015. There was a notable dip in 2017 with a -0.85% change, but the overall trend remains an upward trajectory with a Compound Annual Growth Rate (CAGR) of 1.98% over the last five years.
In the forecast period from 2024 to 2028, the renewable power generation is expected to grow at a modest but steady pace, with a forecasted 5-year CAGR of 2.49%. Innovating towards greener technologies, regulatory support, and investment in renewable infrastructure are key drivers expected to support this growth.
Future trends to watch for:
- Increased adoption of solar and wind energy technologies.
- Government policies and incentives favoring renewable sources.
- Technological advancements boosting energy efficiency.
- Investment trends in renewable energy infrastructure.
- Global shifts towards reducing carbon emissions.