The analysis of the Global Total Support on End-Use Electricity for Residential by Country based on the 2023 data reveals significant variances among nations. South Africa leads the pack with a value of $2.22 billion, showcasing a substantial 67.42% year-on-year increase. Italy follows with $2.15 billion, reflecting an 8.64% rise. In contrast, Indonesia witnessed a 12.15% decline, demonstrating the most significant negative trend. Canada showed a robust 23.95% growth, while Armenia experienced a notable 48.42% increase despite its small absolute value.
Over the last five years, the Compound Annual Growth Rate (CAGR) indicates varied annual growth across these nations. For example, Belgium exhibited a 12.13% increase, and Australia showed a consistent upward trajectory with an 11.06% rise. However, countries like Colombia and Moldova experienced declines of 3.82% and 3.47%, respectively. The United States saw a modest 2.17% growth, indicating steady but slow progress in residential electricity support.
Looking into the future, it will be crucial to monitor factors such as renewable energy adoption, government subsidies, and technological advancements in energy efficiency. These elements are likely to shape the trends in residential electricity support globally. Special attention should be given to rapidly growing markets like Canada and South Africa, which may set the pace for future developments.
Top countries in Total Support on End-Use Electricity for Residential by Country
| # | 10 Countries | Million US Dollars, Constant = 2020 | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 South Africa | 2,220 | 2023 | +26.72% | +67.42% | View data |
| 2 | 2 Italy | 2,150 | 2023 | +6.27% | +8.64% | View data |
| 3 | 3 Australia | 1,100 | 2023 | +1.27% | +11.06% | View data |
| 4 | 4 United States | 881.08 | 2023 | -0.58% | +2.17% | View data |
| 5 | 5 Mexico | 697.11 | 2023 | +7.39% | +10.66% | View data |
| 6 | 6 Indonesia | 681.41 | 2023 | -19.92% | -12.15% | View data |
| 7 | 7 Greece | 664.67 | 2023 | +2.51% | +1.86% | View data |
| 8 | 8 Spain | 308.39 | 2023 | +6.54% | +1.79% | View data |
| 9 | 9 Ukraine | 302.68 | 2023 | +7.84% | -0.41% | View data |
| 10 | 10 Canada | 140.14 | 2023 | +8.44% | +23.95% | View data |
