Forecast: Total Renewable Energy in Chile

Based on the data provided, the total renewable energy in Chile stood at 10.75 MTOE (Million Tonnes Of Oil Equivalent) in 2023. Reviewing the actual data from 2013 to 2023 reveals a mixed trend with periods of growth and decline. The most significant increase occurred in 2013 with an 8.66% year-on-year growth, while the sharpest decline happened in 2014 with a -21.01% drop. However, the annual growth rate became more consistent from 2016 onward, with moderate year-on-year variations oscillating between a 1.12% increase in 2023 to a 12.91% decrease in 2019. For the last two years, the growth rates were relatively modest at 1.12% in 2023 and 1.16% in 2022. The Compound Annual Growth Rate (CAGR) over the last five years is approximately 0.81%.

Future Trends to watch for:

• Given the forecasted growth, by 2028 the renewable energy sector in Chile is expected to experience a 4.1% increase from 2024 levels, with an anticipated CAGR of 0.81%. The trend suggests moderate but steady growth in renewable energy production.
• Upcoming regulatory changes, technological advancements in renewable energy, and economic factors will be crucial in shaping future growth trends.
• The focus will likely be on the development and integration of new renewable energy sources, enhancing grid capacity, and ensuring energy sustainability.