The UK's renewable energy supply grew significantly from 2013 to 2023, starting at 5.6 units of Total Primary Energy Supply in 2013 and reaching 13.9 units in 2023. This represents a cumulative average growth rate (CAGR) of 14.87% for the initial five-year period and a declining trend to 3.86% CAGR over the last five years. Key year-on-year variations witnessed from 2013 include a peak increase of 24.44% and more moderate growth rates towards the most recent years, with a 3.73% increase in 2023.
The forecast indicates a continued, albeit slower, increase in renewable energy supply up to 16.5 units by 2028, with a forecasted CAGR of 2.62% over the next five years.
Future trends to watch for include:
- Advances in renewable energy technologies such as wind, solar, and battery storage.
- Government policy changes and incentives to promote cleaner energy sources.
- Increased investment in infrastructure to support renewable energy integration.
- Market dynamics influenced by geopolitical factors and economic conditions.