Energy storage enterprise subsidies

How much do energy subsidies cost the world?

The world’s total, direct energy sector subsidies – including those to fossil fuels, renewables and nuclear power – are estimated to have been at least USD 634 billion in 2017. These were dominated by subsidies to fossil fuels, which account for around 70% (USD 447 billion) of the total.

What are energy sector subsidies?

No commonly agreed definition exists for energy sector subsidies. Instead, diferent organisations and forums have adopted diferent definitions, which can result in confusion among interested stakeholders over subsidy data. Accounting methods for energy sector subsidies also vary widely.

How many energy sector subsidies were there in 2017?

Total direct subsidies for all energy sources reached at least USD 634 billion in 2017, with 70% of those being for fossil fuels. This technical paper combines the prior analysis in IRENA’s REmap Case (IRENA, 2019a) with the best possible estimates of total energy sector subsidies in 2017.

Are energy sector subsidies harmful?

To-date, analysis of energy sector subsidies at a global level has predominantly focused on environmentally harmful subsidies to fossil fuels,13 given their dominance in the global energy system and total energy subsidies.

Are there subsidies to end-use technologies & energy eficiency?

Estimates of current subsidies to certain end-use technologies (e.g., solar thermal) and energy eficiency. Agora Energiewende (2016), Projected EEG costs up to 2035, Agora Energiewende, Berlin. Bundesministerium der Finanzen (2017), 26.

How much subsidies are needed for energy eficiency & renewables?

The subsidies needed over and above the Reference Case53 in the Industry and Buildings end-uses for energy eficiency and renewables are USD 137 billion and USD 24 billion, respectively in 2030, before growing to USD 166 billion and USD 28 billion, respectively in 2050.