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Connecticut Targets Lower Income Buyers With New Clean Vehicle Subsidies

Isn’t it time to focus more on ways that lower income individuals can purchase an

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Renewable Energy Doesn’t Get More In Subsidies Than Fossil & Nuclear Energy Have Gotten, & Continue To Get

A highly misleading anti-cleantech talking point is that renewable energy “relies on government subsidies,” and that all of the renewable energy growth in recent years is attributable to them. In actuality, fossil fuels and nuclear power have been receiving government support for much longer than renewable energy has. They have received much more government subsidy historically speaking than renewables. And these dirty energy options continue to receive a tremendous amount of government support even though they are overripe industries in many regards

CleanTechnica

Rick Perry’s Energy Department Plans To Prop Up Coal Plants With Direct Subsidies

Coal power plant cc by x1klima on FLickrIn a blatant money-grab for the coal industry, Rick Perry’s Energy Department is pushing for direct subsidies to dirty, un-economical coal-fired power plants.

Rick Perry’s Energy Department Plans To Prop Up Coal Plants With Direct Subsidies was originally published on CleanTechnica.

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G20 Balks At Ending The “Dumbest Policy” Of All, Fossil Fuel Subsidies

636084042094112621-AP-China-G20-e1473131036523

Originally published on RenewEconomy. The G20 meeting in China may have been notable for the decision by both China and the US – the two biggest carbon emitters on the planet – to ratify the Paris climate treaty, an initiative that will almost certainly see the deal come into force by 2017, three years earlier [&hellip

G20 Balks At Ending The “Dumbest Policy” Of All, Fossil Fuel Subsidies was originally published on CleanTechnica.

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OECD: Rich Nations Provide Far More In Export Subsidies For Fossil Fuel Technologies Than For Renewables

coal mining fossil fuel subsidies

Wealthy nations spend, on average, roughly 5 times more on export subsidies for fossil fuel technologies than for renewables, based on newly revealed data from the Organisation for Economic Cooperation and Development (OECD). Given that the European Union is home to many of these wealthy nations, but is also one of the main parties behind

OECD: Rich Nations Provide Far More In Export Subsidies For Fossil Fuel Technologies Than For Renewables was originally published on CleanTechnica.

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Carbon Markets Cut Emissions 17x Cheaper Than Subsidies


The cornerstone appeal of carbon markets is their ability to cut emissions while creating clean energy investments – but it turns out they may be far more effective at the task than anyone could have ever imagined.

Carbon markets reduce greenhouse gas emissions nearly 17 times cheaper than paying power generators renewable energy subsidies, according to new analysis of 15 nations by the Organization for Economic Cooperation and Development (OECD).

Thermal power plant emissions

Thermal power plant emissions image via Shutterstock

OECD’s research once again shows the power carbon markets can have in fighting climate change and funding clean energy, especially when linked across international systems, and is another example that cap-and-trade is far from dead.

Carbon Markets Cut CO2 17 Times Cheaper

Emissions reduction efforts have traditionally focused on decarbonizing the global power sector by boosting clean energy generation, but OECD’s findings hint at a better way to spend limited government funds.

According to the report, the cost of cutting carbon dioxide (CO2) from electricity generation through carbon markets is roughly €10/$ 13.50 per metric ton on average. Compared to average feed-in tariff costs of  €169/$ 228.40 and capital subsidies costing €176/$ 237.80, the potential for rapid decarbonization is evident.

Emissions reduction prices in electricity sector

Emissions reduction prices in electricity sector chart via OECD

Before dismissing the OECD’s findings, consider the list of countries analyzed in the report: Australia, Brazil, Chile, China, Denmark, Estonia, France, Germany, Japan, Korea, New Zealand, South Africa, Spain, the United Kingdom, and the United States.

The analysis covers nearly every potential energy market – from developed economy to developing, from high renewables to fossil fuel dependent, and those with mature carbon markets to those just starting out or under consideration.

No “Climate Bailout Option” If We Fail

Considering the Earth has 30 years at most until its carbon budget is exhausted and the planet is locked into dangerous climate change, “consistent carbon pricing must be the cornerstone of government actions to tackle climate change,” says OECD.

By combining policies that include pricing every ton of CO2 emitted, placing an implicit price on emissions, removing fossil fuels subsidies, and transparently operating carbon market functions, OECD maintains both consumers and investors will be incentivized to reduce emissions while offsetting power price increases.

“Cherry-picking a few easy policy measures is not enough…and we don’t have any time to waste,” said Angel Gurria, OECD Secretary-General. “Unlike the financial crisis, we do not have a climate bailout option up our sleeves.”

But beyond the world’s carbon budget, OECD’s analysis also tackles the carbon bubble – the potential financial meltdown that could occur when fossil fuel corporations and the investments that depend on their stability are suddenly devalued as a result of proven reserves coming off balance sheets as they’re forced to remain in the ground as “unburnable assets.”

By one OECD-cited estimate alone, over 55% of pension fund portfolios is invested in high-carbon assets or sectors greatly exposed to climate change-related regulation – forcing a decision of “either stranding those assets or stranding the planet.” This figure doesn’t even consider the $ 523 billion in fossil fuel subsides governments paid in 2011: How well would Big Oil perform without that support?

Fossil fuel subsidies in OECD countries

Fossil fuel subsidies in OECD countries chart via OECD

In addition, governments face a “carbon entanglement” where they hold a major stake in bringing fossil fuels to market and being paid their share of the profits – around $ 200 billion annually from royalty payments and taxes on oil and natural gas in OECD states alone.

Funding A Fossil-Free Future

And that’s where dedicated revenue from the transition to a clean energy economy comes in. Carbon markets are pouring money into energy efficiency, climate mitigation, and renewable energy projects across the world. With roughly 60 carbon pricing systems currently in place or under development, a clear path forward is apparent – if governments choose to make the right policy decisions.

“We are on a collision course with nature, and we need to take bold decisions to change that path,” concluded Gurria. “ There is only one way forward – governments need to put together the optimal policy mix to eliminate emissions from fossil fuels.”

Carbon Markets Cut Emissions 17x Cheaper Than Subsidies was originally published on: CleanTechnica. To read more from CleanTechnica, join over 30,000 other subscribers: RSS | Facebook | Twitter.


CleanTechnica

Wind Power Turns Oil-Funded Group Against Oil Subsidies


Our old friends over at Americans for Prosperity must have had an epiphany of sorts. In its effort to lobby against a federal tax credit for wind power, the group has come out with a policy statement that calls for an end to oil subsidies. Specifically, AFP argues that energy producers should “make it on their own in the marketplace.”

It should be no stretch of the imagination to assume they mean to include oil and gas production in that statement, since those industries have many decades of federal largesse under their belts. Unless, of course, you simply ignore all that stuff.

AFP’s Statement On Federal Energy Tax Credits

In the statement, AFP is careful to avoid other kinds of subsidies, including technology support, and focus on “preferential tax treatment.”

AFP lobbies against PTC for wind

Michigan wind farm by Jetta Girl.

Here’s the money quote, from an editorial in The Hill by AFP energy policy analyst Christine Harbin Hanson:

Americans deserve energy solutions that can make it on their own in the marketplace—not ones that need to be propped up by government indefinitely. Washington’s long-time policy of giving preferential tax treatment to special interests simply isn’t working.

That’s a key omission, since federal subsidies can come in many forms. Take technology, for example. The Department of Energy has long supported technology advances for the oil and gas industry, modern hydraulic fracturing technology being one standout example.

More recently, the Energy Department’s new REMOTE initiative has pumped millions into developing cutting edge technology that will enable cost-effective gas extraction in outlying fields.

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The funny thing is, if AFP was sincere about energy subsidies – which it isn’t – then it would be in good company with another conservative oil-friendly group, the American Enterprise Institute, which also seems to have had an epiphany. Just last week, AEI organized an event to promote a new study slamming oil dependency for dragging down the US economy.

Production Tax Credit For Wind In Trouble Again

Whenever the federal government cranks up again, wind power is in for a big fight. Our friends over at The Hill inform us that the Joint Committee on Taxation has just come out with a new report on the cost of the production tax credit for wind, and it ain’t pretty — although, we’re guessing that if there was a similar report for the oil and gas industry, wind would come out smelling like roses.

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Wind Power Turns Oil-Funded Group Against Oil Subsidies was originally published on: CleanTechnica. To read more from CleanTechnica, join over 30,000 other subscribers: RSS | Facebook | Twitter.

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