Forecast: Renewable Electricity in Thailand

From 2013 to 2023, Thailand's renewable electricity production showed wide fluctuations. The most notable increase occurred in 2016, with a year-on-year variation of 70.29%. However, the growth rate slowed down significantly from 2019 onward, and by 2023, the year-on-year variation stood at only 0.95%. In 2023, renewable electricity production was at 18.07 units, representing a modest CAGR of 1.69% from the last five years.

Looking ahead, from 2024 to 2028, the compound annual growth rate is forecasted to be just 0.35%. The overall growth rate for this period is expected to be 1.76%, indicating a relatively stable but slow increase in renewable electricity production.

Future trends to watch for include:

• Increased investment in renewable energy infrastructure.

• Government policies and incentives to boost renewable energy adoption.

• Technological advancements that could improve efficiency and reduce costs.