The solar thermal energy supply in the UK has demonstrated steady growth from 2013 to 2023, rising from 2.01 thousand terajoules to 2.45 thousand terajoules. The year-on-year variations show fluctuations, with notable growth spikes in 2021 (9.8%) and a minor decrease in 2020 (-2.11%). The overall Compound Annual Growth Rate (CAGR) for the past five years is 2.13%. The forecasted data indicates continued growth, reaching 2.72 thousand terajoules by 2028, marking a forecasted 5-year CAGR of 1.59%.
Future trends to watch for include:
- Advancements in solar thermal technology that may enhance efficiency.
- Government policies and incentives aimed at increasing renewable energy adoption.
- Market dynamics such as energy prices and competition from other renewable sources.