The total support on end-use electricity for residential in Canada is projected to increase significantly from 150.58 million USD in 2024 to 193.34 million USD in 2028, marking an approximate annual growth rate of 6.4%. This demonstrates a consistent upward trend from the previous year, indicating a steady demand for electricity in the residential sector.
Observing the past two years, there's a visible acceleration compared to previous periods. The cumulative annual growth rate (CAGR) over the five-year forecast period is substantial, reflecting an ongoing rise in electricity usage or expenditures in Canadian households.
Future trends to watch for include:
- Potential policy changes affecting energy efficiency and consumption.
- Developments in renewable energy adoption and smart home technology integration.
- Impacts of economic and population growth on residential energy demand.
