Renewable Energy Subsidies Were $57 Billion in 2009, IEA Says
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Global subsidies for renewable energy totaled $57 billion in 2009, International Energy Agency Chief Economist Fatih Birol said today, providing the agency’s first estimate of assistance for the industry.
The support compares with $312 billion for fossil fuels in the same year, mainly in developing countries, Birol told reporters in London. Support for renewables will rise to $110 billion in 2015, though the industry faces a “challenge” with many countries trying to cut budget deficits, he said.