The geothermal and biomass energy consumption in Chile showed significant variability over the past decade. In 2023, the consumption stood at 6.32 Terawatthours. Analyzing year-on-year variations, we observe fluctuations such as a sharp decline of -27.64% in 2014 and a notable increase of 22.93% in 2018. The last two years before 2024 saw a trend of stabilization with a modest 1.43% uptick in 2023, following several years of decline since 2018. The last 5-year CAGR stood at -7.15%, indicating an overall decreasing trend.
From 2024 onwards, the forecast indicates a slight but consistent growth with a 5-year forecasted CAGR of 1.07%, suggestive of a period of gradual recovery. Future trends to watch for include:
- Technological advancements in geothermal and biomass energy efficiency.
- Government policies and subsidies promoting renewable energy adoption.
- Economic factors influencing energy consumption patterns.