Geothermal power production in the UK is forecasted to exhibit a gradual, consistent increase from 2024 to 2028, starting at 9.57 Gigawatt hours (GWh) in 2024 and reaching 9.65 GWh in 2028. In 2023, actual production was at 9.55 GWh. Year-on-year variation remains modest, with increments of approximately 0.1% annually. The compound annual growth rate (CAGR) over the five-year period from 2023 to 2028 is roughly 0.21%, indicating a stable but slow growth trajectory.
Despite the predictability in these values, certain future trends warrant attention:
- Technological advancements in geothermal energy extraction and efficiency improvement.
- Government policies and investment to promote renewable energy sources.
- Potential competitive pressures from other renewable energy sources such as wind and solar.
- Changes in public and corporate attitudes towards sustainable energy initiatives.