Forecast: Renewable Energy Consumption in Austria

Renewable energy consumption in Austria has seen varied growth patterns over the past years, standing at 36.72 in 2023. The consumption experienced fluctuations from 2013 to 2019, with noticeable declines in some years. However, from 2020 onwards, there has been a consistent upward trend, with a year-on-year increase in consumption for the past four years. The cumulative average growth rate (CAGR) over the last five years up to 2023 has been approximately 1.5%.

Forecasts from 2024 to 2028 predict steady growth, albeit at a slightly reduced CAGR of 0.66%. The forecasted growth rate of 3.35% over this period suggests a stable but modest increase in renewable energy consumption.

Future trends to watch for:

  • Technological advancements in renewable energy sources can drive higher consumption rates.
  • Government policies and incentives promoting renewable energy could further boost usage.
  • Potential economic and environmental factors impacting energy consumption patterns.