The recent analysis of global tax expenditure on fossil fuels for electricity generation shows varying trends across countries. Germany exhibits the highest expenditure among the listed countries, despite an 8.82% reduction from the previous year. Meanwhile, Italy experienced the most dramatic surge with a 134.04% increase. Portugal and Lithuania also saw notable rises of 10.5% and 17.57%, respectively. On the contrary, Sweden and Brazil had significant reductions of 26.04% and 8.9%. The United States, while having one of the lowest expenditures, saw a slight decline of 0.22%. Over five years, expenditures show varied CAGR reflecting unique national policies and priorities.
Looking forward, trends to watch include the impact of continued global environmental initiatives, which may drive further reductions in tax expenditures on fossil fuels. Countries may increasingly focus on shifting towards renewable energy sources, potentially leading to altered fiscal policies and expenditures. Variations by country will depend significantly on regulatory frameworks, economic conditions, and geopolitical factors.
Top countries in Tax Expenditure on All Fossil Fuels for Electricity Generation by Country
| # | 10 Countries | Million US Dollars, Constant = 2020 | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 1,490 | 2023 | -6.58% | -8.82% | View data |
| 2 | 2 Finland | 366.05 | 2023 | +3.6% | -0.91% | View data |
| 3 | 3 Portugal | 298.72 | 2023 | +8.99% | +10.5% | View data |
| 4 | 4 Brazil | 164.33 | 2023 | +4.26% | -8.9% | View data |
| 5 | 5 Slovakia | 97.92 | 2023 | +4.51% | +1.06% | View data |
| 6 | 6 United States | 95.69 | 2023 | -0.36% | -0.22% | View data |
| 7 | 7 Czech Republic | 45.11 | 2023 | +1.76% | -1.01% | View data |
| 8 | 8 France | 42.27 | 2023 | +4.7% | +2.18% | View data |
| 9 | 9 Hungary | 28.27 | 2023 | +2.13% | -0.67% | View data |
| 10 | 10 Italy | 21 | 2023 | +48.11% | +134.04% | View data |
