In 2023, the total support for all fossil fuels for residential use in the US stood at 2.24 billion USD. As we move into 2024, forecasts indicate a steady decline, with values projected at 2.07 billion USD (2025), 1.91 billion USD (2026), 1.75 billion USD (2027), and 1.59 billion USD (2028). This represents a consistent year-on-year decline.

Key variation insights:

2025 sees a 7.6% decrease from 2024.
2026 experiences a further reduction of 7.7% from 2025.
2027 continues the downward trend with an 8.4% drop from 2026.
2028 marks a 9.1% fall from 2027.

The compound annual growth rate (CAGR) from 2024 to 2028 indicates an average annual decline of approximately 8.3%.

Future trends to watch for:

The emphasis on renewable energy sources may accelerate the decline in fossil fuel support.
Government policies and incentives aimed at reducing carbon emissions could further impact fossil fuel support levels.
Technological advancements in energy efficiency may alter future forecasts.