The total support on fossil fuels for residential use in China is projected to rise steadily from $2.25 billion in 2024 to $3.32 billion by 2028. This represents a compound annual growth rate (CAGR) of approximately 10.0% over this forecast period. The increase is moderate, indicating a growing reliance or adjustment to fossil fuel subsidies amidst various economic and policy changes. However, it is crucial to consider that this forecast is based on current policies and market conditions, which could change.
Future trends to watch for include changes in government policies directed towards green energy, potential geopolitical developments affecting energy markets, and technological advancements in energy efficiency. Additionally, growing environmental awareness may lead to shifts in consumer behavior, potentially influencing fossil fuel demand and policy support. Monitoring these factors will be critical in anticipating potential deviations from the current forecast.
