Impact of Fossil Fuel Subsidies on Renewable Energy Sector

EasyChair Preprint 5634, version 2

Abstract

The incessant growth of carbon emissions from fossil fuel based power plants need to be controlled in order to limit the global temperature rise. Energy subsidies are one of the reasons for the over consumption of fossil fuel all over the world. Instead of providing benefits, they are damaging the environment. In comparison, subsidies for renewable energy (RE) are very low which is one of the factors for the laggard growth. Additionally, subsidies data for the renewables is not available, unlike fossil fuel. In this work, we discussed that by providing subsidy the cost of environmentally damaging fuel is decreased hence excess usage. Subsidies for renewable may provide long term benefits, are also discussed and some policy recommendations are put forward to accelerate the growth of RE across the world.

Keyphrases: Barriers, fossil fuels, incentives, renewable energy, subsidies

@booklet{EasyChair:5634,
  author    = {Sikandar Abdul Qadir and Furqan Tahir and Binash Imteyaz},
  title     = {Impact of Fossil Fuel Subsidies on Renewable Energy Sector},
  howpublished = {EasyChair Preprint 5634},
  year      = {EasyChair, 2021}}