The 2024 forecast for European Calculated Inland Consumption of Geothermal Power shows notable disparities among countries. Italy and Iceland lead the consumption with 219.66 and 172.89 thousand terajoules respectively, despite minor reductions from the previous year (-0.65% and -0.43%). France and Germany follow with comparatively modest figures, but Germany saw a significant year-on-year increase of 6.46%. The Netherlands displayed a considerable 14.51% rise, emphasizing its rapid growth in geothermal energy uptake. Conversely, countries like Portugal and Romania experienced declines of -2.44% and -7.28%, reflecting potential challenges in their geothermal adoption strategies.
Recent trends include:
- Year-on-year variations reveal a mixed landscape, with Croatia and Poland exhibiting substantial upticks (35.35% and 6.75%) while Austria and Serbia faced notable regressions (-7.56% and -21.06%).
- Significant growth in nascent markets such as Hungary (2.71%) and Belgium (4.47%) indicates expanding geothermal investments.
Future trends to watch:
- Continued advancements in drilling technology and geothermal plant efficiency could spur growth in underdeveloped markets.
- Policy developments and renewable energy incentives are crucial factors likely to impact geothermal energy adoption rates.
- Italy and Iceland are expected to maintain their dominance in geothermal power consumption due to their advanced infrastructure and resource availability.
Top countries in Calculated Inland Consumption of Geothermal Power by Country
| # | 10 Countries | Terajoules | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Italy | 219,660 | 2023 | +1.49% | -0.65% | View data |
| 2 | 2 Iceland | 172,890 | 2023 | +1.51% | -0.43% | View data |
| 3 | 3 France | 19,950 | 2023 | +2.63% | +1.83% | View data |
| 4 | 4 Germany | 17,280 | 2023 | +6.24% | +6.46% | View data |
| 5 | 5 Portugal | 7,830 | 2023 | +4.71% | -2.44% | View data |
| 6 | 6 Netherlands | 7,340 | 2023 | +8.03% | +14.51% | View data |
| 7 | 7 Hungary | 6,870 | 2023 | +2.62% | +2.71% | View data |
| 8 | 8 Croatia | 1,780 | 2023 | +2.39% | +35.35% | View data |
| 9 | 9 Bulgaria | 1,570 | 2023 | +2.42% | +1.59% | View data |
| 10 | 10 Poland | 1,370 | 2023 | +4.26% | +6.75% | View data |
