In 2023, Italy led in global tax expenditure on residential electricity use, with a value of 57.89 million USD, showing an 8.73% year-on-year growth. The United States saw a modest increase of 2.41%, reaching 23.66 million USD. Meanwhile, Canada's expenditure surged by 98.71% to 15.57 million USD. Conversely, Moldova experienced a decrease of 3.47%, settling at 0.83 million USD, with Colombia and Ireland also declining by 6.11% and 2.05%, respectively.
Future trends to watch:
- Policy shifts in energy subsidies and taxation impacting expenditure levels.
- Technological advancements enabling more efficient electricity use.
- Economic conditions and inflation influencing tax expenditure fluctuations.
Top countries in Tax Expenditure on End-Use Electricity for Residential Share by Country (Million US Dollars, Constant = 2020)
| # | 6 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Italy | 57.89 | 2023 | +6.24% | +8.73% | View data |
| 2 | 2 United States | 23.66 | 2023 | -0.17% | +2.41% | View data |
| 3 | 3 Canada | 15.57 | 2023 | +30.6% | +98.71% | View data |
| 4 | 4 Moldova | 0.83 | 2023 | -2.09% | -3.47% | View data |
| 5 | 5 Colombia | 0.49 | 2023 | -10.26% | -6.11% | View data |
| 6 | 6 Ireland | 0.16 | 2023 | -0.95% | -2.05% | View data |
