Forecast: Renewable Power Consumption in West Africa

The historical data from 2013 to 2023 shows a consistent increase in renewable power consumption in West Africa, growing from 0.004 Exajoules in 2013 to 0.023 Exajoules in 2023. The year-on-year variation indicates several significant spikes, notably in 2015 (50%) and 2019 (30%), while the Compound Annual Growth Rate (CAGR) over the last 5 years stands at 18.13%. In the most recent year, the consumption increased by 15%. Forecasts suggest a continued upward trend, reaching 0.035 Exajoules by 2028 with a projected 5-year CAGR of 6.96%, indicating a 40% growth over the period.

Future trends to watch for include:

• Technological advancements reducing costs and improving efficiency in renewable energy generation.
• Government policies and incentives supporting renewable energy projects.
• Increased private sector involvement and investment in renewable infrastructure.
• Regional cooperation and grid improvements facilitating greater renewable energy integration.