The total support for all fossil fuels for residential use in India is projected to gradually decline from $5.57 billion in 2024 to $5.44 billion in 2028, expressed in 2020 constant US dollars. Compared to 2023, where the value likely stood slightly above $5.57 billion, this reflects a consistent reduction trend. Year-over-year forecasts highlight a modest decline, indicating an average contraction in support around 0.5%-1% annually. The compound annual growth rate (CAGR) over five years indicates a slight contraction.
Future trends to monitor include policy changes promoting renewable energy adoption, economic shifts affecting energy pricing, and technological advancements improving energy efficiency in residences. Additionally, the government's commitment to green energy could further accelerate this declining trend in fossil fuel support.
