In 2023, the support on end-use electricity in Canada stood at $140 million USD. From 2024 to 2028, a steady increase is forecasted, starting from $151.01 million USD to $193.95 million USD. Year-on-year growth rates are expected to be approximately 7.2% for 2024-2025, 6.6% for 2025-2026, 6.2% for 2026-2027, and 5.8% for 2027-2028. The compound annual growth rate (CAGR) over these five years is projected at 6.3%.
Future trends to be aware of include:
- Rising investment in renewable energy technologies.
- Potential policy changes related to carbon pricing and emissions targets.
- Technological advancements in energy efficiency.
- Shifts in consumer behavior towards sustainable energy solutions.
