Over the past decade, coal consumption in Canada has exhibited a decreasing trend. In 2013, the figure stood at 0.86 Exajoules, declining to 0.36 Exajoules by 2023. Between 2021 and 2023, consumption decreased by 7.77%, demonstrating a consistent reduction over recent years. The Compound Annual Growth Rate (CAGR) over the last five years was -11.45%, reflecting a steady decline in coal consumption. Starting from 2024, forecasting suggests that by 2028, consumption will drop further to 0.15 Exajoules, implying a 51.28% reduction from 2023 levels. The forecasted 5-year CAGR is -13.4%, emphasizing an accelerated reduction rate.
Future trends to watch for include the adoption of renewable energy sources, continued government policies favoring sustainable practices, and technological advancements in energy efficiency. These factors are likely to drive further reductions in coal consumption, aligning with global efforts to minimize carbon footprints and combat climate change.
