Report: Fossil fuels have more support than renewable energy

Report: Fossil fuels have more support than renewable energy

You might have assumed we’d turned a corner and that renewable energy was now being more heavily backed than fossil fuels – however, a new report suggests otherwise. According to the Worldwatch Institute’s Vital Signs Online service (logo, pictured), fossil fuel subsidies are still outweighing subsidies for renewable energy. It found that total subsidies for renewable energy on a global basis reached $66billion in 2010: well short of the $775billion in 2010 for fossil fuels. Indeed the 2010 figure for renewable energy did represent a 10 per cent increase – but early estimates suggest the 2012 figure for fossil fuels will surpass the $1trillion mark. Around two thirds of renewable energy subsidies went to renewable electricity resources, while the remaining third went to biofuels. It is believed however, that while total subsidies are well below those of fossil fuels, they ...

Full article: http://www.thegreencarwebsite.co.uk/blog/index.php/2012/0...