In 2023, the consumption of renewables and biofuels in the UK was recorded at 84.36 Thousand Gigawatthours. The forecast for 2024 indicates a growth to 87.45 Thousand Gigawatthours, marking a year-on-year increase of 3.66%. This upward trend continues with a 3.56% rise in 2025 to 90.56 Thousand Gigawatthours, followed by a 3.37% increase in 2026, reaching 93.61 Thousand Gigawatthours. The pattern persists with a 3.18% growth in 2027, rising to 96.59 Thousand Gigawatthours, and a 3.04% increase in 2028, achieving 99.52 Thousand Gigawatthours. The Compound Annual Growth Rate (CAGR) over this period is approximately 3.36%.
Future trends to watch for include:
- Advancements in renewable energy technologies enhancing efficiency and capacity.
- Government policies and incentives aimed at accelerating renewable energy adoption.
- Potential challenges from supply chain disruptions or changes in geopolitical dynamics impacting energy sourcing.
- The role of private and public investment in scaling up renewable energy infrastructure.