Forecast: Renewable Energy Consumption in North America

Renewable energy consumption in North America has demonstrated consistent growth from 2013 to 2023, with an initial increase from 10.51 units in 2013 to 13.34 units in 2023. This growth reflects an overall annual compound growth rate (CAGR) of 3.08% over the past five years. Year-on-year growth has varied, peaking at 6.92% in 2020 and moderating to 2.46% in 2023.

Looking forward, forecasts predict continued growth in renewable energy consumption, reaching 14.92 units by 2028. The projected CAGR for the next five years is 1.78%, indicating a steady, albeit slower, pace compared to the previous period.

Future trends to watch for include:

• Technological advances in renewable energy generation and storage.
• Government policies and incentives aimed at accelerating the adoption of renewable energy.
• Integration of renewable energy with smart grid infrastructure.
• Investment flow into renewable energy projects and innovations.