According to analysis by Bloomberg New Energy Finance the dollar value of subsidies given the renewable energy is less than 10 percent of those given to fossil fuel.
According to the International Energy Agency the fossil fuel industry gets subsidies of around $557 billion a year. The renewable energy industry gets $43-46 billion including $18.2 billion from the US and $19.5 billion from Europe.
"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," said New Energy Finance CEO Michael Liebreich.
