In the residential electricity market of Canada, direct transfer on end-use electricity marked a significant upward trend from 2024 onwards. The data projects a steady compound annual growth rate that underscores increased residential electricity expenditure. Given that 2024 is the first year of forecast evaluated, the year-on-year growth from 2023 is unavailable, although a strong upward trajectory is anticipated. The specific CAGR over the five-year period from 2024 to 2028 suggests consistent year-over-year increases, emblematic of rising electricity costs, enhanced adoption of electric devices, and possible increases in residential demand.
Future trends to watch for include:
- Potential impact of governmental regulations and incentives aimed at promoting renewable energy sources in residential settings.
- Technological advancements in home energy efficiency which may influence electricity consumption patterns.
- Possible price fluctuations due to market dynamics and shifts in consumer behavior towards sustainable practices.
