The analysis of global tax expenditure on coal for residential use in 2023 shows that the United Kingdom leads with $26.73 million, while Ireland and Canada have comparatively low expenditures at $0.12 million and $0.022 million, respectively. The percentage variations from the previous year highlight significant reductions, with Ireland experiencing the most notable decrease at 28.51%. Over the last two years, Hungary and South Korea observed reductions of 13.36% and 11.92%, respectively, indicating a shift from coal reliance. The last five-year CAGR reveals a consistent decline across most countries, signifying a global trend toward reducing coal dependency.
Looking forward, countries are expected to continue decreasing tax expenditures on residential coal use as alternative energy sources gain prominence. Key trends include policy shifts aimed at supporting green energy transitions, increasing influence from international climate agreements, and financial incentives driving the adoption of sustainable alternatives. Monitoring these factors will be critical in forecasting future expenditure adjustments and understanding each country's commitment to energy transition goals.
Top countries in Tax Expenditure on Coal for Residential by Country
| # | 8 Countries | Million US Dollars, Constant = 2020 | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 United Kingdom | 26.73 | 2023 | -3.32% | -3.62% | View data |
| 2 | 2 Lithuania | 7.96 | 2023 | -4.93% | -0.65% | View data |
| 3 | 3 South Korea | 7.51 | 2023 | -11.31% | -11.92% | View data |
| 4 | 4 Czech Republic | 5.54 | 2023 | +6.19% | -0.77% | View data |
| 5 | 5 Slovakia | 1.45 | 2023 | +2.47% | -4.32% | View data |
| 6 | 6 Hungary | 1.15 | 2023 | -5.88% | -13.36% | View data |
| 7 | 7 Ireland | 0.12 | 2023 | -63.88% | -28.51% | View data |
| 8 | 8 Canada | 0.022 | 2023 | -12% | -14.45% | View data |
