In the United States, new Treasury Department figures show that subsidies for wind and solar dwarf all other energy-related provisions in the tax code, costing $31.4 billion in 2024, and are expected to cost taxpayers $421 billion more between 2025 and 2034 based on the subsidies in the Biden-Harris climate bill, the Inflation Reduction Act.
Governments, especially in the West, are pouring trillions into subsidies for wind and solar despite their hidden costs, raising consumer costs and undermining economies.
DOE=U.S. Department of Energy. Total renewable subsidies increased from $7.4 billion in FY 2016 to $15.6 billion in FY 2022. Tax and direct expenditures combined accounted for about 97% of total renewable subsidies over that period.
Along with EIA, the Congressional Research Service (CRS), the Congressional Budget Office (CBO), and the Government Accountability Office (GAO) also issue occasional reports on the scope and nature of federal energy subsidies that mainly or exclusively focus on data. Recent CRS, CBO, and GAO reports include: Congressional Budget Office.
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