The UK's commercial and public services final consumption of renewables and biofuels is projected to grow steadily from 64.05 thousand terajoules in 2024 to 74.93 thousand terajoules by 2028. This represents a compound annual growth rate (CAGR) of approximately 3.95%. In context, the consumption level in 2023 was below the forecasted 2024 value, indicating a growing trend in renewable energy utilization.
Future trends to watch include:
- Advancements in renewable technology and their impact on efficiency and consumption rates.
- Policy changes aiming to accelerate the shift towards sustainable energy sources.
- Market impacts from shifts in global energy demand and supply chains.