The data reveals a forecasted increase in electricity generation capacity at public electric utilities in Canada from 2024 onwards. In 2023, the actual capacity stood at 2.16 million kilowatts. Comparing year-on-year, there’s been a progressive increase, with an average annual growth rate (CAGR) of approximately 4.3% over the five-year period from 2024 to 2028.
Key trends and variations:
- 2024: 2.2624 million kilowatts – up by 4.7% from 2023.
- 2025: 2.3661 million kilowatts – increase of 4.6% from 2024.
- 2026: 2.4678 million kilowatts – a rise of 4.3% from 2025.
- 2027: 2.5674 million kilowatts – growth of 4.0% from 2026.
- 2028: 2.665 million kilowatts – up by 3.8% from 2027.
Future trends to watch for:
- Continued investment in renewable energy sources significantly impacting overall capacity.
- Technological advancements in energy storage and generation efficiency.
- Government policies promoting sustainable energy infrastructure development.