In 2023, the geothermal power available for final consumption in the UK is estimated to have stood at 34 terajoules. The forecast for 2024 to 2028 remains constant at 34 terajoules each year, showing no year-on-year variation across the period. The compound annual growth rate (CAGR) over these five years is 0%, reflecting a stagnant trend in the value of geothermal energy consumption.
Future trends to watch for:
- Advancements in technology could potentially unlock increased geothermal energy potential.
- Policy changes promoting renewable energy might incentivize investments in geothermal projects.
- Monitoring shifts in public and governmental support for sustainable energy will be crucial.
