Forecast: Renewable Power Consumption in Africa

Renewable power consumption in Africa has experienced significant growth over the past decade. From 0.094 Exajoules in 2013, it increased to 0.53 Exajoules in 2023. The data reveals impressive jumps, particularly between 2014 and 2016, where year-on-year growth surpassed 50% in some instances. Post-2016, the growth rate moderated but remained robust, showcasing consistent annual increases. Notably, the Compounded Annual Growth Rate (CAGR) over the last five years is 11.33%, indicating strong upward momentum.

Between 2021 and 2023, the year-on-year variation saw a more tempered but steady progress, moving from 14.43% to 8.25%. This suggests a maturing renewable energy sector in the region.

The future forecast predicts a CAGR of 4.25% from 2024 to 2028, implying moderated but sustained growth, with an overall forecasted five-year growth rate of 23.12%.

Future trends to watch for include advancements in technology, governmental policy shifts favoring renewables, and increased foreign investments. These factors could further drive renewable energy adoption, enhancing Africa's energy sustainability and independence.