The U.S. government has a long history of boosting fledging energy industries—until now— concludes a report released Friday by DBL investors, a capital fund specializing in clean energy. In fact, historically, government subsidies for nuclear, oil, and coal far outweigh those provided for clean energy developments such as solar and wind.
An analysis of the first 15 years of development in each of the industry sectors shows that government support of clean energy development falls short. The fledgling nuclear industry received today’s equivalent of $ 3.3 billion annually in support during the 1950’s—1% of the entire government budget. Oil and gas similarly received 0.5% of the federal budget in support—an average of $1.8 billion per year. In contrast, solar and wind received an annual average of less than $0.4 billion in its first 15 years.
(Graphic available via the Washington Post)