Analysis of Forecast: Energy Supply of Renewables and Biofuels in Belgium
From actual data between 2013 and 2022, Belgium’s renewable energy supply grew from 151.6 Thousand Terajoules to 227.26 Thousand Terajoules, demonstrating variability in annual growth (YOY) ranging from -4.33% to 12.41%. The Compound Annual Growth Rate (CAGR) over five-year spans shows moderation, with a peak of 13.53% (2013) and stabilization around 6.16% (2023). From 2023 onwards, the forecast indicates a 19.3% increase by 2028, with a 5-year forecast CAGR at 3.59%.
The future trend suggests a steady increase in renewable and biofuel energy supply, emphasizing the importance of strategic investments and technology advancements to sustain growth. Monitoring regulatory policies and innovations in the energy sector will be crucial.
