Forecast: Renewable Energy Supply in ASEAN Countries

Over the period from 2013 to 2023, the renewable energy supply in ASEAN countries has shown a generally declining trend. In 2023, the value stood at 20.14 units of total primary energy supply. The year-on-year variations indicate intermittent fluctuations, but the overall compound annual growth rate (CAGR) over the past five years has been consistently negative, reflecting a decreasing trend in renewable energy supply.

Looking forward, the forecasted data from 2024 to 2028 continues to project a decline. The forecasted CAGR for the next five years is -1.11%, indicating a slower rate of decline compared to the historical data but still a reduction in renewable energy supply. The overall forecasted growth rate over the next five years is expected to be -5.44%.

Future trends to watch for include:

• Technological advancements in renewable energy production that could reverse the declining trend.
• Government policies and regulations aimed at boosting renewable energy adoption.
• Investment and funding channels focusing on sustainable energy sources.
• Market shifts and economic factors influencing energy supply and demand dynamics.