SOURCE: Industrial Info Resources

Industrial Info Resources

November 18, 2014 06:30 ET

IEA: Fossil-Fuel Subsidies Restricting Renewable Energy Growth, an Industrial Info News Alert

GALWAY, IRELAND--(Marketwired - Nov 18, 2014) - Written by Martin Lynch, European News Editor for Industrial Info (Galway, Ireland) -- Fossil fuels will remain the dominant source of electricity to 2040, according to the International Energy Agency (IEA), but the high level of subsidies is holding back investment in renewable energy.

In its World Energy Outlook 2014 report, the IEA estimates that fossil fuels such as oil, gas and coal will supply 55% of electricity by 2040, down markedly from its 68% share in 2012.

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