In 2023, the geothermal power energy supply in the UK stood at 34 Terajoules. Observing forecasted data from 2024 to 2028, a slight but steady growth is evident. While the supply is projected to remain stable at 34 Terajoules for 2024 and 2025, a modest increase begins in 2026 with values reaching 34.1 Terajoules, followed by incremental rises to 34.2 Terajoules by 2028.
Year-on-year variations:
- 2024 to 2025: 0%
- 2025 to 2026: 0.29%
- 2026 to 2027: 0%
- 2027 to 2028: 0.29%
When analyzing the compound annual growth rate (CAGR) over five years, the average yearly increase is minimal, indicating a stable yet non-dynamic market.
Future trends to watch for:
- Technological advancements in geothermal energy extraction and efficiency.
- Potential governmental and policy changes affecting renewable energy incentives.
- Integration of geothermal energy with other renewable sources to optimize overall energy supply chains.
