Breaking Down Global Subsidies for Fossil Fuels

A new report from the International Monetary Fund shows that the world spent $5.2 trillion on fossil fuel subsidies in 2017. That’s half a trillion dollars more than in 2015. But it also shows that fossil fuel subsidy spending is down by half since 2012. What gives? How much are we actually spending to make fossil fuels cheaper? We’ll clarify the different ways economists are measuring that spending. Then, U.S. tax subsidies for solar and wind are set to ramp downward as part of a deal struck in 2015. But some are calling for an extension of those credits once again.  Wait, didn’t the industry say it would be just fine without them? We’ll look at arguments for and against another extension. Finally, PG&E is warning California customers about planned blackouts during this year’s fire seasons. Does this open up a new opportunity for commercial microgrids and residential battery backup? Recommended reading:Atlantic: The Hidden Subsidy of Fossil FuelsGTM: US Solar Industry Braces for ITC Stepdown While Making the Case for Another ExtensionBloomberg: Democrats Try to Extend Wind, Solar Aid They Agreed to Let DieSF Chronicle: Fire Danger Could Force SF Blackout, PG&E SaysSupport for this podcast comes from PG&E. Did you know that 20 percent of EV drivers in the U.S. are in PG&E’s service area in Northern California? PG&E is helping to electrify corporate fleet vehicles. Get in touch with PG&E’s EV specialists to find out how you can take your transportation fleet electric. We're also sponsored by Wunder Capital. Wunder Capital is the leading commercial solar financing company in the United States. Click here to find out how Wunder Capital can help you finance your next commercial solar project. Subscribe to GTM podcasts via Apple Podcasts, Google Podcasts, Stitcher, Spotify or wherever you find your audio content, or integrate our RSS feed into the app of your choice.

Om Podcasten

Covering breaking news in clean tech, going deep on global energy policy, and debating the levers that need to move to accelerate the energy transition. Energy Gang is the podcast covering clean energy technology, renewable energy, and the environment. The world of clean energy moves fast, and you need a reliable source to stay on top of the news that matters. You’ll find it on Wood Mackenzie’s Energy Gang.How will changes to the US government affect decarbonisation and energy security? When will hydrogen, nuclear and carbon capture deploy at scale? Where’s the money for the energy transition green finance coming from and how much more is needed? What’s the outlook for EVs? What are the energy predictions for solar energy? What's the latest on climate change?Get answers to questions like these, bi-weekly on Tuesdays at 7am ET. Plus, get special live episodes recorded at the biggest climate and energy events throughout the year, like COP30 and Climate Week NYC. Don’t worry if you can’t make it in person, Energy Gang brings you all the updates on energy policy, energy finance and energy innovation you need to hear.Energy Gang is presented by Wood Mackenzie and hosted by Ed Crooks, Vice-Chairman of Energy at Wood Mackenzie and a former Financial Times and BBC News journalist. Regular guests are Amy Myers-Jaffe (Director of NYU’s Energy, Climate Justice and Sustainability Lab), and Dr Melissa Lott (Partner at Microsoft) – plus a roster of industry leaders and policy influencers, like Jigar Shah (Industry figurehead and former director of the Loan Programs Office in the US Department of Energy), Caroline Golin (Head of North America, Global Energy Market Development and Policy at Google) and Ambassador Geoffrey Pyatt (Former Assistant Secretary of State for Energy Resources).If you like The Energy Transition Show, Catalyst with Shayle Kann, The Big Switch from Columbia University, Open Circuit with Stephen Lacey or The Green Blueprint, you’ll enjoy Energy Gang.Want to get involved with the show? Reach out to podcasts@woodmac.com to:Bring Energy Gang to your eventBe a guest on the showSponsor an episodeAsk a question to Ed Crooks or one of our guestsCheck out another leading clean tech global podcast by Wood Mackenzie, Interchange Recharged: https://www.woodmac.com/podcasts/the-interchange-recharged/Wood Mackenzie is the leading global data and analytics solutions provider for renewables, energy and natural resources. Learn more about Wood Mackenzie on the official website: https://www.woodmac.com/