Forecast: Renewable Energy Consumption in Brazil

Brazil’s consumption of renewable energy has shown a steady increase from 2013 to 2023, reaching 52.62 Units of Final Energy Consumption in 2023. Based on historical data, the year-on-year variations indicate a stable upward trend with a 1.29% increase in 2023. Over the last two years, the annual growth averaged around 1.47%, while the CAGR over the past five years stood at 2.31%. The forecast data from 2024 to 2028 suggest a slower growth rate with a 0.48% CAGR, indicating a more moderated but steady enhancement in renewable energy consumption reaching 54.44 units in 2028.

Future trends to watch for include potential advancements in renewable energy technologies, government policies promoting green energy initiatives, and significant investments in infrastructure that could accelerate growth beyond forecasted expectations. Monitoring economic factors and global energy prices will also be crucial in understanding their impact on renewable energy consumption in Brazil.