Today in Cleantech
The Environmental Law Institute has put together an infographic showing the disparity between subsidies for fossil fuels, and those for renewable energy and nuclear. Fossil fuels took in $70.2 billion in a mix of direct subsidies and a whole lot of tax breaks. Renewable energy took in $12.2 billion in subsidies. These figures mirror the six times multiple that I’ve written about before and that other analysts have shown (fossil fuels get roughly six times the subsidies as renewables). There’s no sign that subsidy rollbacks in North America and Europe will stop, but it’s still helpful to remember that even knocking out all the tax subsidies that fossil fuels get would give us a more realistic understanding of what fossil fuels actually cost.