Over the past decade, the supply of renewables and biofuels energy in the UK has demonstrated substantial growth. As of 2023, the energy supply stands at 301.68 Thousand Gigawatthours, revealing significant progress from 125.76 Thousand Gigawatthours in 2013. The growth has varied year-on-year, with notable peaks in 2015 (26.41%) and 2022 (9.96%). The average annual growth rate over the last five years (2018-2023) has been 5.09%, indicating a steady yet fluctuating upward trend.
Looking forward, the forecasted data suggests a moderate but consistent increase in the energy supply, rising to 364.17 Thousand Gigawatthours by 2028. This represents a projected average annual growth rate of 3.01% for the next five years (2024-2028), translating to a cumulative growth rate of 15.98% over the forecast period.
Future trends to watch for:
- Technological advancements in renewable energy production and storage.
- Government policies and subsidies promoting green energy.
- Fluctuations in global energy market prices impacting investment in renewables.
- Potential environmental regulations driving cleaner energy solutions.
- Shifts in consumer demand towards sustainable and renewable energy sources.
