The historical data from 2013 to 2023 indicates that geothermal and biomass energy consumption in South Africa has remained relatively stable. The consumption fluctuated slightly between 0.004 and 0.005 Exajoules, with a notable decline of -20% between 2013 and 2014, followed by consistent values in subsequent years. By 2023, the value stood at 0.005 Exajoules.
From 2018 onwards, the consumption showed no year-on-year variation, maintaining the same value through 2023. This resulted in a flattening of the compound annual growth rate (CAGR). Looking ahead, the forecast from 2024 to 2028 predicts a stable trend with no expected year-on-year changes or CAGR, indicating a lack of anticipated growth or decline in consumption.
Future trends to watch for:
- Technological advancements in geothermal and biomass energy systems, potentially driving efficiency improvements.
- Government policies and incentives aimed at promoting renewable energy, which could alter the consumption patterns.
- Investment trends in renewable energy infrastructure in South Africa.
- Environmental and sustainability initiatives that might increase the adoption rates of renewable energy sources.