Solve Climate blog highlights absurd fossil fuel subsidies

Solar Could Generate 15% of Power by 2020, If US Ends Fossil Fuel Subsidies

The Result: 882,000 New Jobs, 10% Drop in Emissions

by Stacy Feldman - Dec 29th, 2009

in

• Clean Energy
• Clean Tech Sector
• emissions
• Environmentalists
• Governors
• Investors
• Solar
• Subsidies

Solar power technologies could generate 15 percent of America's power in 10 years, but only if Washington levels the playing field on subsidies, a report by the Solar Energy Industries Association (SEIA) says.

That means either rolling back fossil fuel subsidies, as President Obamaproposed earlier this year, or increasing subsidies for clean energy, the association says.

Fossil fuels received $72 billion in total federal subsidies from 2002 to 2008, keeping prices artificially low, according to figures from the Environmental Law Institute (ELI). About 98 percent of that went to conventional energy sources, namely coal and oil, leading to more emissions. The rest, $2.3 billion, was pumped into a new technology to trap and store carbon dioxide spewed by coal plants.

During that same period, solar got less than $1 billion, according to the SEIA, a trade group representing 1,100 solar companies across the nation...Read the rest at Solve Climate...

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