Forecast: Renewables and Biofuels Energy Supply in Finland

From 2013 to 2023, Finland's renewable and biofuel energy supply has demonstrated an overall upward trend, increasing from 9.86 Million Tonnes Of Oil Equivalent (Mtoe) in 2013 to 14.02 Mtoe in 2023. This period saw some fluctuations, such as a notable drop in 2020 but a sharp rise again in 2021. The year-on-year variation has ranged from -1.62% to 14.13%, with the five-year compound annual growth rate (CAGR) at 3.07% up to 2023.

Looking ahead, the forecasted values indicate continued growth, reaching 16.25 Mtoe in 2028. The forecasted CAGR from 2024 to 2028 stands at 2.33%, suggesting a consistent growth rate. This translates to a forecasted overall growth rate of 12.23% over the next five years.

Future trends to watch for include:

  • Adaptations in technology and policy that could accelerate the growth of renewable and biofuel energy supply.
  • Impact of global market and environmental regulations on Finland's renewable energy investments.
  • Potential fluctuations in growth rates due to economic shifts or changes in energy demand.

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