Geothermal and biomass energy consumption in Argentina has shown significant variability over the years. Starting at 0.018 exajoules in 2013, there were fluctuations, with notable drops in 2016 and consistent increases after 2019. As of 2023, consumption stood at 0.028 exajoules, marking a year-on-year increase of 3.7%.
Key trend highlights:
- 2013-2016: Variable declines with a significant drop in 2016 (-17.65%).
- 2017: Noticeable recovery with a 21.43% increase.
- 2018-2019: Small fluctuations and a minor consistent increase.
- 2020-2023: Marked recovery leading to growth, highlighted by a 47.06% increase in 2020 and continued elevation each year.
Recent variations:
- 2022: Year-on-year growth of 3.85%.
- 2023: Year-on-year growth of 3.7%.
Future trends to watch for:
- Forecasted consistent growth from 2024-2028, with a CAGR of 2.62%.
- The 5-year forecasted growth rate is expected to be around 13.79%, indicating a stable upward trend in energy consumption.