Forecast: Renewable Power Generation in Belgium

Renewable power generation in Belgium has experienced fluctuations but generally shows an upward trend. In 2023, renewable energy production stood at 0.24 Exajoules, growing from 0.12 Exajoules in 2013. Year-on-year growth has varied, with notable increases in 2015, 2019, and 2020, while experiencing minor declines in 2016 and 2021. Over the last two years, renewable energy generation increased by approximately 9%. The Compound Annual Growth Rate (CAGR) over the last five years was 6.89%. The forecast predicts continued growth, with a 5-year average CAGR of 3.14%, leading to a projected 0.29 Exajoules by 2028.

Future trends to watch for include:

• Policy changes and government incentives aimed at amplifying renewable energy projects.
• Technological advancements in renewable energy storage and efficiency.
• Investment trends in renewable infrastructure and related sectors.
• Impact of European Union regulations and climate goals on Belgium’s energy strategies.