In 2023, the combined gross heat production from renewables and biofuels in the UK was at 6.12 thousand terajoules. From 2024 onwards, forecasts indicate a steady growth trajectory: 2024 sees a value of 6.44 thousand terajoules, anticipated to grow to 7.68 thousand terajoules by 2028. This represents an average annual growth rate (CAGR) of approximately 4.66% over the five-year forecast horizon. Notably, annual increases observe gradual enhancement, with a 2024-2025 rise of 4.97%, matching closely in the subsequent years with slight increments.
Key future trends to watch for include:
- Technological advancements in biofuels and renewables
- Policy shifts and regulatory changes
- Market responsiveness to global energy demands and sustainability goals
- Investment trends in infrastructure to support renewables