The forecast for Germany’s total support on fossil fuel production from 2024 to 2028 shows a progressive decline in constant 2020 US Dollars. Starting at a value of 1.81 billion USD in 2024, support decreases by approximately 3.3% annually, reaching a projection of 1.61 billion USD by 2028. In 2023, the support stood at 1.86 billion USD, illustrating a clear downward trend year-on-year. The compound annual growth rate (CAGR) over five years reflects a negative trend, suggesting Germany is steadily reducing its support for fossil fuel production.
Future trends to watch for include Germany's increased investment in renewable energy and potential policy shifts that may further decrease fossil fuel subsidies, aiming towards its ambitious climate goals. Monitoring the impact of energy transition strategies and geopolitical factors on these forecasts will be crucial.
