Team Energy > England / Wales > About Us > News > Governments not spending enough on renewables
Search

Governments not spending enough on renewables

2010-08-05 16:51:44

The amount of money spent globally on subsidies for the fossil fuel industry hugely exceeds the money spent on developing renewable alternatives.

The revelation came in the form of a Bloomberg New Energy Finance Report, which discovered that governments invested between $43 billion and $46 billion in renewables last year, in the form of tax credits and other incentives. However, the International Energy Agency spent some $557 billion subsidising fossil fuels the year before.

The chief executive of New Energy Finance, Michael Liebreich explained, "One of the reasons the clean energy sector is starved of funding is because mainstream investors worry that renewable energy only works with direct government support." In other words, private investment would be a lot easier to come by if governments would show more confidence and financial commitment to the development of renewables.

Using Premium Kerosene in your home oil boiler will help to reduce emissions from the oil you burn for energy. Premium Kerosene is available from CPL Petroleum outlets nationwide.

Boosting energy efficiency in the home is also an effective way to limit environmental harm from fossil fuels. Signing up to a boiler maintenance scheme with Team Energy helps make sure your boiler and heating system are running at their most efficient, limiting the amount of oil you have to buy and use.

box1.png

box4.png

box3.png

box6.png