In 2023, Norway's production of renewables and biofuels stood at 177.25 thousand gigawatthours. From 2024 onward, the forecasted data shows a steady year-on-year increase in production values, rising from 180.04 thousand gigawatthours in 2024 to 189.24 thousand gigawatthours by 2028. The year-on-year variation percentages indicate a consistent growth rate: approximately 1.29% from 2024 to 2025, 1.27% from 2025 to 2026, 1.24% from 2026 to 2027, and 1.21% from 2027 to 2028. The compound annual growth rate (CAGR) over the five-year period averages around 1.25%.
Future trends to watch for include advancements in renewable energy technologies, government policies promoting sustainable energy, and market dynamics such as supply chain improvements and investment inflows in green energy infrastructure. These factors could further accelerate growth in renewables and biofuel production in Norway.
