In 2023, the UK's gross available energy from renewables and biofuels stood at 26.0 million tonnes of oil equivalent. The forecasted growth from 2024 to 2028 shows a steady increase, with year-on-year growth rates ranging from approximately 3.7% to 3.2%. Over the five-year period from 2024 to 2028, the Compound Annual Growth Rate (CAGR) is projected to be around 3.5% annually.
Future trends to watch for include:
- Technological advancements in renewable energy production increase efficiency.
- Government policies and subsidies influencing growth and development in the sector.
- Integration of biofuels in transportation as a contributor to reducing emissions.