The U.S. Spends 10 Times more on Fossil Fuel Subsidies than Education

There is something profoundly wrong with countries that spend more on fossil fuels than they do on education. Fossil fuels are the leading cause of climate change while education is essential to the health and well being of both individuals and the societies they inhabit.

According to a recent International Monetary Fund (IMF) report, the U.S. spends ten times more on various forms of fossil fuel subsidies than it does on education. The U.S. fossil fuel industry receives 649 billion in subsidies, that is ten times more tax dollars than the public education system.
To make matters worse, the Trump administration has sought to increase support for fossil fuels while decreasing support for education.

Solar and Wind Investment Overview

For the fifth year in a row global investments in clean energy exceeded $300 billion in 2018. According to BNEF, last year saw an 8 percent reduction in clean energy investment compared to 2017, the first time we have seen a year over year decline in a long time.

Although last year set a record for new photovoltaic capacity surpassing 100GW for the first time, the sector also fell 24 percent to $130.8 billion in 2018 due at least in part to declining capital costs. The Chinese decision to restrict access to the feed in tariff contributed to a 53 percent reduction in Chinese solar ($40.4 billion).

The Trump Administration is Hurting US Renewables and Imperiling the Planet

Renewable energy now accounts for around 17 percent of US electricity generation and where it not for the Trump administration that number would be higher. Trump has slowed the growth of clean power and hurt the renewable energy industry. At least 20,000 solar jobs have been lost in the first two years of the Trump presidency. After being ravaged by tariffs earlier in Trump's tenure, the US solar energy industry now has to contend with another round of tariffs on imported solar components. This is at odds fact based policy. Scientists tell us that to keep temperatures from rising above the upper threshold limit we will need to transition away from fossil fuels to renewable sources of energy.  Instead of supporting clean power the Trump administration is propping up dirty energy.

Webinar - Renewable Energy Understanding and Evaluating Your Options

This complimentary renewable energy webinar will take place on Wednesday, May 22, 2019 at 11:00 AM Pacific / 2:00 PM Eastern. It will explore four salient themes: Options, cost, risk and reliability. It will also answer the question what is the best renewable options for your organization? As well as what is the best way to add them to your energy mix?

"ENGIE Insight" has assembled a panel of experts to answer these and other questions about renewable energy.  The hosts and expert panelists include Brian Dooley, Senior Director of Renewable Consulting and Shy Muralidharan, Director of Product Management. These energy and sustainability experts will show you why now is the time to invest in renewables. Learn how renewables can be part of a holistic energy management strategy, why renewables are now so much more attainable, and future trends to watch. Get your specific questioned answered by submitting them during registration. Dooley and Muralidharan will discuss them during the Q&A session.

Clean Energy is Essential for More than Just Climate Action

Clean energy is a necessary part of efforts to address the climate crisis and if implemented at scale, renewables would favorably impact far more than just the environment.

Greenhouse gas (GHG) from fossil fuel based energy sources are contributing to planetary warming and driving the climate crisis. We have just surpassed 415 ppm of atmospheric carbon for the first time in human history. We urgently need solutions and making the transition to clean energy would afford substantial GHG reductions.

A 2018 report by the International Renewable Energy Agency (IRENA) said the rapid deployment of renewables, combined with greater energy efficiency, could achieve 90% of energy sector emission reductions required by the Paris Climate agreement. This would mean that by 2050 clean energy would have to provide 66% of the world’s energy consumption and 80% of its power generation. We have a long way to go to get to these kind of numbers, but we know what we have to do and we know that it is viable.

MENA's Renewable Energy Leadership

In much of the world year over year growth of renewables has slowed, but countries in the Middle East and North Africa (MENA) are outpacing the norm. According to recent International Energy Agency (IEA) data, 2018 was the first year since 2001 that renewable energy growth failed to increase year on year. New net capacity from renewable sources was about 180 Gigawatts (GW), which is equivalent to the previous year. However, the report indicates that renewable capacity accelerated in many countries in the MENA region last year.