From 2013 to 2023, Turkey's renewables and biofuels production has shown an overall upward trend. In 2013, the production stood at 533.09 thousand terajoules and saw a notable increase by 2023, reaching 1158.3 thousand terajoules. Fluctuations were observed over this period, with significant year-on-year variations, such as a 30.64% increase in 2015 and a 22.1% increase in 2019. The CAGR over the last five years, from 2018 to 2023, was 7.67%, indicating robust growth in this sector.
For the future, foresee consistent growth with Turkey’s forecast pointing to a production level of 1447.6 thousand terajoules by 2028. The forecasted CAGR over the next five years is 3.53%, signaling steady progress, albeit at a slower pace than the previous five years.
Key trends to watch for include:
• Advancements in renewable technologies and their integration into national energy plans.
• Policy changes and government incentives aimed at boosting renewable energy production.
• Potential impacts of global energy market dynamics and environmental regulations.
