• 7 minutes Get First Access To The Oilprice App!
  • 11 minutes Japanese Refiners Load First Iran Oil Cargo Since U.S. Sanctions
  • 13 minutes Oil prices forecast
  • 17 minutes Renewables in US Set for Fast Growth
  • 17 hours Socialists want to exorcise the O&G demon by 2030
  • 2 hours Russian Message: Oil Price War With U.S. Would Be Too Costly
  • 20 hours Chinese FDI in U.S. Drops 90%: America's Clueless Tech Entrepreneurs
  • 23 hours Good Marriage And Bad Divorce: Germany's Merkel Wants Britain and EU To Divorce On Good Terms
  • 13 hours Oil CEOs See Market Rebalancing as Outlook Blurred by China Risk
  • 2 days Duterte's New Madness: Philippine Senators Oppose President's Push To Lower Criminal Age To 9
  • 3 hours Cheermongering about O&G in 2019
  • 4 hours *Happy Dance* ... U.S. Shale Oil Slowdown
  • 2 days North Sea Rocks Could Store Months Of Renewable Energy
  • 17 hours WSJ: Gun Ownership on Rise in Europe After Terror Attacks, Sexual Assaults
  • 24 mins UK, Stay in EU, Says Tusk
  • 2 days Oceans "Under Fire" Of Plastic Trash
Energy Transition Will Upend Geopolitics

Energy Transition Will Upend Geopolitics

A new report that surveys…

Global Intelligence Report - 16th January 2019

Global Intelligence Report - 16th January 2019

Saudi Arabia’s Aramco is eyeing…

Tsvetana Paraskova

Tsvetana Paraskova

Tsvetana is a writer for the U.S.-based Divergente LLC consulting firm with over a decade of experience writing for news outlets such as iNVEZZ and…

More Info

U.S. Federal Renewables Subsidies Drop

solar panels

Total renewable-related federal subsidies in the United States dropped to US$6.7 billion in financial year 2016 from US$15.5 billion in FY 2013, a new report by the U.S. Energy Information Administration (EIA) showed.

Subsidies for renewable energy, including biofuels, accounted for between 42 percent and 52 percent of total federal energy subsidies in each of the years 2013 through 2016, the EIA said in its report.

The federal interventions that the EIA has taken under consideration in its report include cash payments directly to market participants in the form of grants, loans, and other financial assistance; estimated tax expenditures; investments in research and development (R&D); and credit subsidies to recipients of federal loan guarantees.

Tax and direct expenditures combined accounted for around 93 percent of all federal renewable-related subsidies for each of the years analyzed. In FY 2016, tax expenditures alone accounted for 80 percent of total renewable energy subsidies.

Between fiscal years 2013 and 2016, direct federal financial interventions and subsidies in U.S. energy markets almost halved, from US$29.3 billion in FY 2013 to US$15.0 billion in FY 2016, EIA data shows.

U.S. federal subsidy support for fossil fuels plunged from nearly US$3.9 billion in FY 2013 to US$489 million in FY 2016.

Related: Venezuela Offers India 30% Discount On Oil...If It Pays In Cryptocurrency

“Within those fossil fuel subsidies, support for coal slightly increased, while support for natural gas and petroleum liquids decreased substantially. In FY 2016, certain tax provisions related to oil and natural gas yielded positive revenue flow for the government, resulting in a negative net subsidy of $773 million, based on estimates from the U.S. Department of Treasury,” said the EIA.

Last year, wind power for example generated a record 6.3-percent share of total U.S. electricity, with four states generating more than 30 percent of their electricity from wind, according to the American Wind Energy Association (AWEA). Last year, Iowa, Kansas, Oklahoma, and South Dakota were the states that generated over 30 percent of their electricity from wind energy. Across the United States, 14 states currently generate more than 10 percent of their electricity from wind.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News