The transformation output of renewables and biofuels in the UK is set to increase steadily from 2024 to 2028. Starting at 1.89 million tonnes of oil equivalent in 2024, it reaches 2.18 million by 2028. This indicates a continuous focus on renewable energy sources. In 2023, the output stood at approximately 1.82 million tonnes, marking a growth trajectory into the forecasted period. Year-on-year growth from 2024 to 2028 shows an increase of approximately 4% annually, while the compound annual growth rate (CAGR) is expected to be around 3.5%.
Future trends:
- Further advancements in technology enhancing conversion efficiency.
- Government initiatives supporting sustainable energy projects.
- The potential impact of global energy policy shifts on local output strategies.
