Forecast: Renewable Power Consumption in Chile

The consumption of renewable power in Chile has exhibited a notable upward trend over the past decade, growing from 0.085 Exajoules in 2013 to 0.33 Exajoules in 2023, an impressive increase. The year-on-year variation indicates notable growth spurts: a significant 28.95% increase in 2015 and a 27.55% increase in 2016. Over the last two years, growth slowed slightly, with an 18.55% increase in 2022 and a more modest 11.22% increase in 2023. The compound annual growth rate (CAGR) over the last five years stands at 11.71%, reflecting consistent growth albeit at a somewhat decelerated pace compared to earlier years.

Future trends to watch for:

• Continued steady growth, with a forecasted 5-year CAGR of 6.32% leading to a total growth rate of 35.83% by 2028.
• Investment in new renewable energy technologies and infrastructure improvements should drive efficiency and increase capacity.
• Government policies and international agreements supporting carbon reduction and renewable energy may act as significant catalysts for further growth.