Biden Administration Report Admits Green Energy Subsidized More Than Fossil Fuels

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Biden Administration Report Admits Green Energy Subsidized More Than Fossil Fuels

Turns out it’s really easy to be green when the government foots the bill. Fox News reported that a 59-page report “quietly released” by the Biden administration revealed that renewable energy receives significantly more taxpayer subsidies than fossil fuels. The report, published in August, analyzed data from 2016 to 2022 and found that renewable energy sources received $83.8 billion in subsidies, while fossil fuels received $24.5 billion in 2022. This data underscores the substantial government support for green energy. President Biden recently proposed ending fossil fuel subsidies as part of his budget plan.

Senator John Barrasso (R-WY) told Fox News Digital, “For years Democrats have claimed technologies like solar energy are cheaper than coal, oil, natural gas, and nuclear. This report makes clear that solar is largely dependent on heavy subsidies with taxpayer dollars.”

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"Under the Biden Administration, American families are paying too much for energy as it is," the Wyoming Republican continued. "They shouldn’t have to fork over their hard-earned money to support liberal special interests. Solar should be competing for sales in the marketplace, not for subsidies in Washington."

According to the EIA report, while renewable energy sources like wind and solar power account for about 21% of domestic electricity production, such sources received a staggering $83.8 billion in subsidies, by far the largest share compared to any other category. 

Energy end use subsidies, like energy efficiency- and conservation-related tax provisions, represented the next-largest slice of energy sector federal subsidies after renewable power, according to the EIA report. End use sources received $64.8 billion in subsidies, equivalent of 35% of total energy-related subsidies doled out by the federal government.

While renewable and end use sources accounted for more than 80% of total energy industry subsides, fossil fuel sources — namely natural gas, petroleum and oil, which account for more than 60% of electricity production and the vast majority of transportation energy — benefited from $24.5 billion, or 13%, in subsidies.

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