Federal energy subsidies declined 23 percent from 2010 to 2013

Federal energy subsidies declined from $38 billion to $29 billion between fiscal years 2010 to 2013, a 23-percent decrease, according to a report by the Energy Information Administration.

Spending on renewable energy subsidies declined to $15 billion in fiscal 2013 from $15.6 billion in fiscal 2010, according to the report released Friday. The decline represents a 4 percent decrease.

The report follows a request in September by Michigan Republican Rep. Fred Upton, chairman of the House Committee on Energy and Commerce, for information following up on earlier subsidy reports.

The Energy Information Administration cautioned that Friday’s report does not include all subsidies benefiting the energy sector, including other oil and natural-gas subsidies. Additionally, the report does not include subsidies such as tax-exempt municipal bonds that let publicly owned utilities obtain lower interest rates than those available to private borrowers or the Treasury.

Biofuel subsidies saw by far the largest decrease in subsidies in renewable sectors, to $1.8 billion in fiscal 2013 from $7 billion in fiscal 2010.

Spending on solar subsidies, however, rose to $5.3 billion in fiscal 2013 from $1.1 billion in fiscal 2010, a 381-percent increase.

Wind energy subsidies slightly increased to $5.9 billion in fiscal 2013 from $5.5 billion in 2010, a 7-percent increase.

Oil and natural-gas subsidies saw a higher percentage decrease than renewables overall. Oil and gas subsidies fell to $2.3 billion in 2013 from $2.9 billion, a 21-percent decrease.

Not all spending on fossil fuel sectors declined. Spending on coal subsidies totaled $1.1 billion in fiscal 2013, up from $937 million in fiscal 2010, a 17-percent increase.

on Facebook on LinkedIn