Breaking Down Global Subsidies for Fossil Fuels

<p>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.</p><p>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?</p><p>We’ll clarify the different ways economists are measuring that spending.</p><p>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.&nbsp;</p><p>Wait, didn’t the industry say it would be just fine without them? We’ll look at arguments for and against another extension.</p><p>Finally, PG&amp;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?</p><p>Recommended reading:</p><ul><li><a href="https://www.theatlantic.com/science/archive/2019/05/how-much-does-world-subsidize-oil-coal-and-gas/589000/" target="_blank">Atlantic</a>: The Hidden Subsidy of Fossil Fuels</li><li><a href="https://www.greentechmedia.com/articles/read/solar-industry-makes-case-for-itc-extension-as-it-preps-for-phasedown#gs.dt2a2p" target="_blank">GTM</a>: US Solar Industry Braces for ITC Stepdown While Making the Case for Another Extension</li><li><a href="https://www.bloomberg.com/news/articles/2019-05-15/democrats-try-to-extend-wind-solar-aid-they-agreed-to-let-die" target="_blank">Bloomberg</a>: Democrats Try to Extend Wind, Solar Aid They Agreed to Let Die</li><li><a href="https://www.sfchronicle.com/business/article/Fire-danger-could-force-San-Francisco-blackout-13856597.php?psid=5A0m3" target="_blank">SF Chronicle</a>: Fire Danger Could Force SF Blackout, PG&amp;E Says</li></ul><p><em>Support for this podcast comes from PG&amp;E.&nbsp;Did you know that 20 percent of EV drivers in the U.S. are in PG&amp;E’s service area in Northern California? PG&am