The UK Renewables and Biofuels Transformation Output is projected to increase steadily from 1.89 Million Tonnes Of Oil Equivalent (Mtoe) in 2024 to 2.18 Mtoe in 2028. This consistent growth represents a Compound Annual Growth Rate (CAGR) of approximately 3.6% over the five-year forecast period. compared to 2023, where the output was 1.83 Mtoe, the 2024 forecast represents a 3.3% increase.
- From 2024 to 2025, the year-on-year growth is 4.2%.
- From 2025 to 2026, it is 3.6%.
- From 2026 to 2027, it is 3.4%.
- From 2027 to 2028, it is 3.3%.
Future trends to watch include technological advancements in renewable energy, policy changes favoring green energy, and potential shifts in energy consumption patterns that could influence the pace of growth in renewables and biofuels output.
