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Fossil fuel subsidies in Europe are actually likely to increase
due to the transition to green energy.
According to a report by Bloomberg New Energy Finance BNEF, the EU will have to pay increased compensation
for the closure of coal-fired power plants.
Some countries are also introducing schemes to subsidize power plants to secure electricity supplies, often in favor of fossil fuel use
.
Renewable energy subsidies still significantly outweigh fossil fuels, which received €61 billion in subsidies from the government in 2016, compared with €4.
9 billion
in support for coal, oil and gas, BNEF said.
While the total subsidy has risen, it is worth the
money.
Subsidies per €1 million supported a total of 10.
3 GWh per €1 million in 2016, compared to 7.
4 GWh
three years earlier.
Since 2013, governments are still seeking to limit the 7 percent increase
in green energy subsidies.
Portugal and Denmark have plans to phase out financial assistance
after the end of existing contracts.
The UK will not effectively exclude renewable energy subsidies
until 2025.
"The good news is that governments are now doing more to do so as the cost of renewable technologies continues to fall," said BNEF analyst Victoria Cuming, "and we expect renewable energy support in most EU countries to start to decline
over the next decade or so.
" ”
Germany and Italy received the most support in the G28, reaching €24.
2 billion and €11.
7 billion respectively in 2016
.
Germany also received its first subsidy-free wind power projects
.
The UK government increased government grants by 50% between 2013 and 2016
.
Fossil fuel subsidies in Europe are actually likely to increase
due to the transition to green energy.
According to a report by Bloomberg New Energy Finance BNEF, the EU will have to pay increased compensation
for the closure of coal-fired power plants.
Some countries are also introducing schemes to subsidize power plants to secure electricity supplies, often in favor of fossil fuel use
.
Renewable energy subsidies still significantly outweigh fossil fuels, which received €61 billion in subsidies from the government in 2016, compared with €4.
9 billion
in support for coal, oil and gas, BNEF said.
While the total subsidy has risen, it is worth the
money.
Subsidies per €1 million supported a total of 10.
3 GWh per €1 million in 2016, compared to 7.
4 GWh
three years earlier.
Since 2013, governments are still seeking to limit the 7 percent increase
in green energy subsidies.
Portugal and Denmark have plans to phase out financial assistance
after the end of existing contracts.
The UK will not effectively exclude renewable energy subsidies
until 2025.
"The good news is that governments are now doing more to do so as the cost of renewable technologies continues to fall," said BNEF analyst Victoria Cuming, "and we expect renewable energy support in most EU countries to start to decline
over the next decade or so.
" ”
Germany and Italy received the most support in the G28, reaching €24.
2 billion and €11.
7 billion respectively in 2016
.
Germany also received its first subsidy-free wind power projects
.
The UK government increased government grants by 50% between 2013 and 2016
.
