Renewable power generation in the UK is forecasted to increase from 1.34 exajoules in 2024 to 1.43 exajoules by 2028. In 2023, the renewable power generation stood at 1.31 exajoules. The year-on-year growth is estimated to be approximately 1.49% from 2024 to 2025, 2.21% from 2025 to 2026, 1.44% from 2026 to 2027, and 1.42% from 2027 to 2028. The compounded annual growth rate (CAGR) over this five-year period is around 1.80%.
Future trends to watch for:
- Advancements in renewable technologies such as offshore wind and solar. - Government policies and subsidies aimed at promoting renewable energy. - Increased investment in grid infrastructure to accommodate a higher share of renewable energy. - Potential challenges related to energy storage and supply consistency.