The energy supply of renewables and biofuels in the UK has demonstrated a significant upward trend over the past decade. By 2023, the value reached 301.68 Thousand Gigawatthours, a considerable increase from 125.76 Thousand Gigawatthours in 2013. Despite minor fluctuations, including a slight dip in 2020, the overall year-on-year growth has been mostly positive. Notable annual growth rates include a peak year-on-year increase of 26.41% in 2015 and a more moderate 4.19% in 2023. The compound annual growth rate (CAGR) over the last five years stands at 5.09%, highlighting sustained growth in renewable and biofuel energy supplies in the UK.
Looking forward, the forecast from 2024 to 2028 reveals a projected year-on-year increase culminating in a value of 364.17 Thousand Gigawatthours by 2028. The forecasted 5-year CAGR is expected to moderate at 3.01%, translating to an overall growth rate of 15.98% over the projected period. This suggests a continued, albeit slower, increase in renewable energy supplies.
Future trends to watch for include advancements in renewable energy technologies, government policies impacting energy sources, and potential investments enhancing infrastructure. Monitoring these factors will be crucial for anticipating changes in the trajectory of renewable energy supply in the UK.
