In 2023, Germany led global tax expenditures on fossil fuels for electricity generation at 1.35 billion USD, followed distantly by Finland and Portugal. Key year-on-year variations show significant declines for Germany (-10.56%) and Brazil (-11.29%), while Italy and Lithuania exhibited sharp increases of 128.97% and 29.51% respectively. Trends reflect an overall gradual decline in countries like the United States and a reduction in Sweden’s expenditure by 29.5%.
Future trends to watch include variable tax rates influenced by shifting policy landscapes aiming for clean energy transitions. The drastic increase in Italy suggests potential policy shifts affecting Europe, alongside continuous monitoring for fluctuations in global fossil fuel dependency.
Top countries in Tax Expenditure on All Fossil Fuels for Electricity Generation by Country
| # | 10 Countries | Million US Dollars | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 1,350 | 2023 | -8.09% | -10.56% | View data |
| 2 | 2 Finland | 335.33 | 2023 | +1.56% | -2.66% | View data |
| 3 | 3 Portugal | 286.04 | 2023 | +8.79% | +9.71% | View data |
| 4 | 4 Brazil | 185.7 | 2023 | +2.52% | -11.29% | View data |
| 5 | 5 United States | 94.56 | 2023 | -0.07% | +0.14% | View data |
| 6 | 6 Slovakia | 92.54 | 2023 | +3.49% | +0.22% | View data |
| 7 | 7 Czech Republic | 41.78 | 2023 | +1.6% | -2.22% | View data |
| 8 | 8 Hungary | 28.14 | 2023 | +1.63% | -1.34% | View data |
| 9 | 9 Ireland | 19.44 | 2023 | -10.5% | -1.12% | View data |
| 10 | 10 Italy | 19.07 | 2023 | +45.46% | +128.97% | View data |
