In 2023, Germany led global tax expenditures on fossil fuels for electricity generation, despite an 8.82% decrease. Southern European and Baltic countries showed notable variations; Portugal grew by 10.5%, while Lithuania experienced a 17.57% rise and Italy surged by 134.04%. Conversely, Brazil and Sweden witnessed declines of 8.9% and 26.04%, respectively. Other countries like Finland, the United States, and Canada exhibited minimal year-to-year fluctuations. Over the last five years, the global compound annual growth rate points toward varied approaches towards fossil fuel use for electricity across different nations.
Future trends to observe include:
- The shift towards renewable energy may further reduce fossil fuel tax expenditures in many developed countries.
- Emerging economies might divert more funds towards fossil fuel support for energy security despite global decarbonization efforts.
- Policy changes and economic conditions will play crucial roles in shaping national expenditures on fossil fuels.
Top countries in Tax Expenditure on All Fossil Fuels for Electricity Generation Share by Country (Million US Dollars, Constant = 2020)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 58.3 | 2023 | -6.58% | -8.82% | View data |
| 2 | 2 Finland | 14.28 | 2023 | +3.6% | -0.91% | View data |
| 3 | 3 Portugal | 11.65 | 2023 | +8.99% | +10.5% | View data |
| 4 | 4 Brazil | 6.41 | 2023 | +4.26% | -8.9% | View data |
| 5 | 5 Slovakia | 3.82 | 2023 | +4.51% | +1.06% | View data |
| 6 | 6 United States | 3.73 | 2023 | -0.36% | -0.22% | View data |
| 7 | 7 Czech Republic | 1.76 | 2023 | +1.76% | -1.01% | View data |
| 8 | 8 France | 1.65 | 2023 | +4.7% | +2.18% | View data |
| 9 | 9 Hungary | 1.1 | 2023 | +2.13% | -0.67% | View data |
| 10 | 10 Italy | 0.82 | 2023 | +48.11% | +134.04% | View data |
