In 2023, Mexico led the group with $36.46 million USD in direct electricity transfers, followed by South Africa at $35.1 million. Both countries showed significant growth: Mexico increased by 16.69% and South Africa surged by 62.05%. Notable declines were seen in Indonesia (-22.47%) and Argentina (-23.2%). Smaller markets like Armenia displayed substantial growth, up 48.1%. Most European countries exhibited modest changes, with Belgium, Netherlands, and Canada showing positive growth between 8-11%.
Looking ahead to 2024 and beyond, key trends include:
- Renewable Energy Adoption: Countries increasing investment in renewable energy sources might see a rise in electricity transfer due to enhanced capacity.
- Economic Stability: Economic conditions will heavily influence direct electricity transfers, especially in developing nations.
- Technological Advancements: Advancements in grid and storage technology may lead to more efficient distribution and potential cost reductions.
Top countries in Direct Transfer on End-Use Electricity for All Beneficiaries or Sectors Share by Country (Million US Dollars)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Mexico | 36.46 | 2023 | +8.61% | +16.69% | View data |
| 2 | 2 South Africa | 35.1 | 2023 | +26.04% | +62.05% | View data |
| 3 | 3 Australia | 10.06 | 2023 | -1.35% | +6.6% | View data |
| 4 | 4 Indonesia | 7.89 | 2023 | -37.78% | -22.47% | View data |
| 5 | 5 Spain | 4.87 | 2023 | +4.19% | -1.01% | View data |
| 6 | 6 Ukraine | 1.94 | 2023 | +6.21% | -2.49% | View data |
| 7 | 7 Argentina | 1.57 | 2023 | -32.47% | -23.2% | View data |
| 8 | 8 Ireland | 0.95 | 2023 | -1.21% | -3.06% | View data |
| 9 | 9 Azerbaijan | 0.89 | 2023 | +23.21% | -4.97% | View data |
| 10 | 10 Belgium | 0.55 | 2023 | +6.65% | +11.15% | View data |
