In 2023, the tax expenditure on fossil fuels for electricity generation in the US stood slightly below $94.5 million. The forecast data indicates a gradual decline in expenditure from 2024 to 2028, showing minimal year-on-year changes. The average yearly variation over these years, or CAGR, shows a decline of a negligible percentage, reflecting a relatively stable expenditure with only a minor downward trend.

Future trends to watch include:

Potential shifts in policy favoring renewable energy sources that could accelerate the decline in fossil fuel tax expenditures.
Technological advancements in renewable energy reducing reliance on fossil fuels.
Regulatory changes impacting the cost and competitiveness of fossil fuels in the energy market.