The historical data from 2013 to 2023 shows a general decline in renewables and biofuels available for final consumption in Turkey. In 2023, the available volume stood at 48.56 thousand gigawatthours, continuing a trend of decreasing availability. From 2022 to 2023, there was a year-on-year reduction of 2.97%. Over the past five years, the compound annual growth rate (CAGR) averaged a decline of 1.79%.
Looking forward, the forecast data for the years from 2024 to 2028 anticipates a continued decline with an average annual reduction (CAGR) of 2.57%. This period is expected to witness a total decrease of 12.19% by 2028.
Future trends to watch for:
- Technological advancements in renewable energy production that could change the availability trend.
- Government policies and incentives aimed at boosting renewable energy usage.
- Market demand shifts towards more sustainable energy sources.
- Potential geopolitical and economic factors that might impact energy sourcing and consumption.