In 2023, the total support on coal for residential use in Canada was observed at 16.0 thousand US dollars. Over the forecasted period from 2024 to 2028, a clear downward trend is projected, with values decreasing from 14.0 to 8.0 thousand US dollars. The year-on-year percentage variation shows a decreasing trend: from -14.3% to -11.1%, leading to a consistent annual decline. The five-year compound annual growth rate (CAGR) further underscores this decline, averaging a negative growth per year.
Future trends to watch for include potential policy changes aimed at reducing carbon emissions, which could further diminish coal support. The progression towards sustainable and renewable energy solutions is likely to continue, possibly accelerating the decline in coal usage support. Monitoring advancements in renewable energy technology and associated costs will be essential in assessing future coal support trajectories.
