In 2023, geothermal power consumption in Germany's chemical and petrochemical sectors was at 39.0 TOE. From this base, forecasts indicate a trend of moderate growth in geothermal power usage: 2024 sees an increase to 41.0 TOE, which is a 5.1% increase from 2023. This upward trend continues with a 4.9% and 4.7% increase in 2025 and 2026, respectively. By 2028, consumption is expected to reach 48.0 TOE, with a Compound Annual Growth Rate (CAGR) of approximately 4.3% over the five-year period from 2024 to 2028.
Future trends to watch for include:
- Technological advancements enhancing geothermal efficiency and capacity.
- Increased policy support for renewable energy sources in industrial sectors.
- Potential economic shifts that could influence energy demand and investment.
