In 2023, direct transfer on fossil fuels for electricity generation in Brazil was at a level paralleling the forecasted $1.13 billion for 2024. The forecast shows a consistent decline from 2024 through 2028, where it is expected to reach approximately $0.974 billion. The projected year-on-year decrease averages about 3.3%. The compounded annual growth rate (CAGR) over the five-year period reflects a steady annual reduction of about 3% in funding allocation to fossil fuels for electricity.
Future trends to watch include Brazil’s potential policy shifts toward renewable energy incentives, technological advancements, and global energy market dynamics that might accelerate this declining trend in fossil fuel reliance.
