Forecast: Total Renewable Energy Share in the Total Final Energy Consumption in Canada

In 2023, Canada's renewable energy share in the total final energy consumption stood at 22.5%. The forecast data suggests a steady upward trend from 2024 to 2028, with values slightly increasing to 23.17% by the end of this period. Year-on-year growth is modest, with annual increases of between 0.17% to 0.22%. The Compound Annual Growth Rate (CAGR) over these five years is anticipated to reflect this gradual pace, marking a consistent yet moderate rise in the contribution of renewables.

Future trends to watch for include technological advancements in renewable energy and regulatory changes that could accelerate adoption. Additionally, monitoring energy policies and investments in renewable infrastructure will be important as Canada progresses towards its sustainability goals. Emphasis on innovations in storage solutions and integration of smart grid technologies could further influence the growth trajectory of renewable energy's market share.