Electricity generation in internal combustion turbine power plants in Canada stood at 9.4445 million kilowatts in 2023. Over the last two years, the generation has shown a mixed trend, with a slight increase of 0.38% in 2023 following a decrease of 1.58% in 2022. Over the past five years, the Compound Annual Growth Rate (CAGR) was 0.4%, indicating modest growth.
Historically, the growth from 2013 to 2023 has been relatively stable, albeit with minor fluctuations. Significant variations include a 7.8% increase in 2021 and a 4.61% decrease in 2020. Future forecasts suggest a gradual increase, with a five-year CAGR of 0.31%, culminating in 9.6441 million kilowatts by 2028.
- Key Points: Stability with minor fluctuations from 2013 to 2023
- Recent Trends: A fluctuation in growth with a modest increase in recent years
- Future forecast: Gradual increase expected with a five-year CAGR of 0.31%
Future trends to watch for include the impact of technological advancements, changes in regulatory policies, and shifts towards renewable energy sources which could significantly influence the growth trajectory of internal combustion turbine power plants in Canada.