In 2023, Japan's renewable power generation stood at a significant level. Forecasted data indicates a steady growth in renewable power generation from 178.51 TWh in 2024 to 230.92 TWh in 2028. The year-on-year variations show an upward trend of around 7.4% between 2024 and 2025, 6.9% from 2025 to 2026, 6.4% from 2026 to 2027, and 6.0% from 2027 to 2028. Over the past five years, this translates to a Compound Annual Growth Rate (CAGR) of approximately 6.7%, highlighting consistent growth in renewable energy adoption.
Future trends to watch for include:
- Technological advancements in renewable energy sources, particularly solar and wind power.
- Government policies and incentives aimed at boosting renewable energy investments.
- Emergence of new market players and increased competition driving innovation.
- Potential economic impacts stemming from fluctuating global energy prices and material costs.
- Public and private sector collaborations pushing for sustainability and climate action targets.