Examining the gross available energy from geothermal power in Spain for the forecasted years 2024 to 2028, it is clear that the values remain constant at 190 tonnes of oil equivalent annually. This indicates a stable trend in geothermal energy output over the forecasted period.
In 2023, the actual data also stood at 190 tonnes of oil equivalent, showing no year-on-year variation in percentage from 2023 to 2024. Consequently, the Compound Annual Growth Rate (CAGR) over the five-year period from 2024 to 2028 is 0%, indicating no average annual change in energy production.
Future trends to watch for include:
- Possible technological advances in geothermal extraction that could boost production efficiency.
- Policy changes and incentives aimed at renewable energy growth.
- Market demand shifts as Spain continues its energy transition efforts towards sustainable sources.
- Investment in infrastructure to better harness geothermal energy's potential.