Forecast: Geothermal and Biomass Energy Consumption in Mexico

Geothermal and biomass energy consumption in Mexico stood at 0.064 Exajoules in 2023. Historical data reveals a general decline in consumption from 2013 to 2023, marked by fluctuations such as a notable drop of 14.71% in 2021 and a slight rebound of 12.07% in 2022, followed by a 1.54% decline in 2023. The Compound Annual Growth Rate (CAGR) over the past five years is -2.33%.

Future trends indicate a continued gradual decrease in consumption, with forecasts showing a decline to 0.062 Exajoules by 2028, representing a 0.63% annual decrease and an estimated overall reduction of 3.13% over the next five years.

Future trends to watch for:

• Potential technological advancements in geothermal and biomass energy efficiency.
• Policy changes impacting renewable energy investments and subsidies.
• Shifts in market dynamics due to alternative renewable energy sources.
• Impact of global environmental commitments on local energy consumption patterns.