In 2023, Brazil's support for fossil fuels in electricity generation stood at approximately 1.35 billion USD. For 2024, the forecast is 1.32 billion USD, indicating a 2.2% year-on-year decrease. The trend continues with annual declines of 3.1% in 2025, 2.3% in 2026, 2.4% in 2027, and 2.5% in 2028. The compound annual growth rate (CAGR) from 2024 to 2028 reflects a steady average decline of approximately 2.5%.
Future trends to watch for:
- The transition to renewable energy sources as Brazil increases its commitment to climate goals.
- Potential policy changes impacting subsidies for fossil fuels.
- Economic factors influencing energy investment strategies.
