Sweden’s renewable energy supply has shown consistent growth over the past decade, increasing from 18.38 million tonnes of oil equivalent (Mtoe) in 2013 to 24.53 Mtoe in 2023. The year-on-year variation has fluctuated, with significant peaks such as 10.47% in 2015 and 6.61% in 2021, contrasted with some declines like -4.23% in 2018 and -0.37% in 2022. The Compound Annual Growth Rate (CAGR) over the last five years is 3.95%, indicating strong upward momentum.
Future trends to watch for include a forecasted CAGR of 1.57% over the next five years, culminating in an 8.12% overall growth by 2028. Key trends will involve advancements in biofuel technology, governmental policy shifts towards cleaner energy, and increasing investments in renewable infrastructure.
