The forecasted support for fossil fuels in the residential sector in India shows a declining trend from 2024 to 2028. In 2024, the support stands at 0.14% of GDP and is projected to decrease each year, reaching 0.07% by 2028. This indicates a significant reduction as part of India's potential strategic shift towards cleaner energy resources and reduced reliance on fossil fuels.
Notable trends to watch for include:
- India's investment and policy changes towards renewable energy sources.
- The impact of global fossil fuel prices on domestic energy policy choices.
- Developments in technology that might accelerate the adoption of alternative energy sources in the residential sector.