Fossil Fuels Funding Harms Solar Energy Success

Who doesn’t want a pollution free country? Almost every other person wants to see their country go all green and pollution free. To attain such environment,  we need to stop funding fossil fuels. Many oil and gas companies offer green agendas. Many companies are now becoming solar industry leaders. But still there are few companies that are insincere with their mother nature.

Fossil Fuel Funds:

A new study by Bloomberg Energy Finance showed that global subsidies for fossil fuels are nearly 13 times higher than those for renewable energy sources, including front runners wind and solar power, among others.

Though the renewable energy industry is taking over the fossil fuel industry but still it is underfunded. Fossil fuels received $72 billion in federal subsidies from 2002-2008. 98% of this amount goes to coal and oil. While during these years i.e. from 2002-2008 solar power received less than $1 billion. Hence the prices of oil and gas were kept artificially low.

As soon as Obama took over, the funds for solar power increased and so did the demand of fossil fuels. It is like taking a step forward and moving two steps behind.

Last September, the G20 group of nations openly discussed the subsidy challenge in the Copenhagen Summit. The 20 largest nations decided to segment the $300 billion subsidies spent on fossil fuels. Unfortunately, by then end of year neither did the Congress nor the Obama administration did anything.

Some people criticize that by cutting down the subsidies will be a big mistake for recession. The increase in the prices of coal and oil will be harmful.

Some Facts on Fossil Fuel Plants:

  • The fossil fuel burning power plant wastes for about 65% of the fuel.
  • Their maximum efficiency is 35% which is very less.
  • Fossil fuel energy is cheaper than solar energy.

We need to play our role:

We need to play our role as well. We even make changes to the climate by the amount of energy being used by us. Solar power supply less than 1% of our total energy consumption. We still prefer travelling in big cars and avoid bicycles. We need to conserve energy as well.

Solar Energy Research:

According to the Solar Energy Industries Association, “solar energy could provide 15% of our energy consumption with 882,000 new green jobs by 2020 only if Congress would just bring equality to energy subsidies.” Now that is a lot. At present it has taken over 60,000 but can still afford in thousands and more. The coal industry takes over 85,000.

One thought on “Fossil Fuels Funding Harms Solar Energy Success”

  1. it really would be wonderful for the whole planet to “go green”! it will happen soon enough, i hope i’m around for it!! how exciting!

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