In 2023, Germany led with the highest tax expenditure on coal for electricity generation, at $1.49 billion. Finland, Portugal, and the United States followed, with expenditures of $0.364 billion, $0.279 billion, and $0.096 billion, respectively. Notably, Portugal showed a significant year-on-year increase of 10.59%, while Brazil recorded a notable decrease of 9.76%. Over the last five years, Germany and Brazil showcased declining trends as highlighted by their negative CAGR figures. In contrast, Portugal, Finland, France, and Hungary experienced moderate growth in tax expenditure on coal for electricity production.
Future trends to watch include the global shift towards renewable energy sources which is likely to decrease reliance on coal. Countries with current high expenditures like Germany may redirect efforts towards sustainable energy alternatives. The ongoing policy changes focused on carbon reduction and international agreements could further accelerate these shifts. Additionally, technological advancements in renewable energy and battery storage will play a crucial role in diminishing coal consumption, impacting future tax expenditures on coal across these nations.
Top countries in Tax Expenditure on Coal for Electricity Generation by Country
| # | 10 Countries | Million US Dollars, Constant = 2020 | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 1,490 | 2023 | -6.33% | -8.61% | View data |
| 2 | 2 Finland | 364.28 | 2023 | +7.32% | +1.6% | View data |
| 3 | 3 Portugal | 279.9 | 2023 | +8.98% | +10.59% | View data |
| 4 | 4 United States | 95.68 | 2023 | -0.36% | -0.22% | View data |
| 5 | 5 Slovakia | 89.57 | 2023 | +4.93% | +1.38% | View data |
| 6 | 6 France | 45.99 | 2023 | +7.3% | +3.91% | View data |
| 7 | 7 Brazil | 43.82 | 2023 | +3.9% | -9.76% | View data |
| 8 | 8 Czech Republic | 27.92 | 2023 | 0% | -3.32% | View data |
| 9 | 9 Sweden | 23.32 | 2023 | +3.17% | -7.66% | View data |
| 10 | 10 Hungary | 15.1 | 2023 | +6.5% | +3.2% | View data |
