In 2023, Germany led in tax expenditure on fossil fuels for electricity generation, with a remarkable gap between itself and other countries like Finland and Portugal. Despite this, Germany experienced a reduction of 10.56% compared to the prior year, signifying a shift towards reduced dependency on fossil fuels. Portugal displayed a positive variation, increasing by 9.71%, while Italy's substantial rise of 128.97% reflects its renewed focus on fossil fuel subsidy. On the contrary, countries like Sweden and Brazil witnessed significant decreases, indicating possible moves toward cleaner energy.
Future trends to observe include a continued global push for renewable energy sources, potentially leading to further declines in fossil fuel subsidies. Attention should be given to how countries with increasing expenditures might balance this with sustainable energy initiatives. Additionally, the impact of international climate policies will likely play a crucial role in shaping tax expenditure distributions.
Top countries in Tax Expenditure on All Fossil Fuels for Electricity Generation Share by Country (Million US Dollars)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 59.05 | 2023 | -8.09% | -10.56% | View data |
| 2 | 2 Finland | 14.62 | 2023 | +1.56% | -2.66% | View data |
| 3 | 3 Portugal | 12.47 | 2023 | +8.79% | +9.71% | View data |
| 4 | 4 Brazil | 8.1 | 2023 | +2.52% | -11.29% | View data |
| 5 | 5 United States | 4.12 | 2023 | -0.07% | +0.14% | View data |
| 6 | 6 Slovakia | 4.04 | 2023 | +3.49% | +0.22% | View data |
| 7 | 7 Czech Republic | 1.82 | 2023 | +1.6% | -2.22% | View data |
| 8 | 8 Hungary | 1.23 | 2023 | +1.63% | -1.34% | View data |
| 9 | 9 Ireland | 0.85 | 2023 | -10.5% | -1.12% | View data |
| 10 | 10 Italy | 0.83 | 2023 | +45.46% | +128.97% | View data |
