Phased Removal of Fossil Fuel Subsidies is the Key Remedial Solution for Reduced Dependence on Thermal Power
Phased Removal of Fossil Fuel Subsidies is the Key Remedial Solution for Reduced Dependence on Thermal Power
Summary
The gradual phase-out of fossil fuel subsidies is expected to reduce the dominance of thermal power and pave the way for the development of renewable and nuclear technologies. Phasing out these subsidies will help to raise national revenues, which can then be used for the deployment of renewable and alternative energy sources. This will eventually lead to a reduction in the wasteful consumption of thermal power and eliminate market price distortions. It will also help in addressing environmental issues and the challenges arising, to a large extent, from thermal power generation. At present, fossil fuel subsidies are dispensed by the government to support thermal power generation, which remains predominant in the total power mix. A vast amount of money is being spent by governments across the globe to subsidize the production of thermal power. However, the costs incurred on these subsidies generally outweigh the benefits.
Scope
Summary
The gradual phase-out of fossil fuel subsidies is expected to reduce the dominance of thermal power and pave the way for the development of renewable and nuclear technologies. Phasing out these subsidies will help to raise national revenues, which can then be used for the deployment of renewable and alternative energy sources. This will eventually lead to a reduction in the wasteful consumption of thermal power and eliminate market price distortions. It will also help in addressing environmental issues and the challenges arising, to a large extent, from thermal power generation. At present, fossil fuel subsidies are dispensed by the government to support thermal power generation, which remains predominant in the total power mix. A vast amount of money is being spent by governments across the globe to subsidize the production of thermal power. However, the costs incurred on these subsidies generally outweigh the benefits.
Scope
- Emergence of competitive power market in the thermal sector due to phased removal of fossil fuel subsidies.
- Reduced dependence on thermal power and increased focus on renewable and nuclear.
- Improvement in energy security due to phase out of fossil fuel subsidies.
- Envionmental benefits attached with reduction of emissions.
- Identify key growth and investment opportunities in alternative, nuclear and other technologies.
- Gain insight on the adverse effects of fossil fuel subsidies.
- Developing strategies for market penetration in the renewable and nuclear sectors.
- Facilitate decision-making based on upcoming market developments in the power generation sector.
Contents
1 TABLE OF CONTENTS1.1 List of Tables
1.2 List of Figures
2 SUMMARY
3 PHASED REMOVAL OF FOSSIL FUEL SUBSIDIES IS THE KEY REMEDIAL SOLUTION FOR REDUCED DEPENDENCE ON THERMAL POWER
3.1 A Reduction in the Competitiveness of Fossil Fuels will Lead to a Decline in the Market Share of Fossil Fuels in the Power Mix
3.2 Thermal Power Consumption is Expected to Decline, Which Will Bring Significant Environmental Benefits
3.3 Fossil Fuel Reserves are Expected to Last Longer, Enhancing Energy Security.
3.4 Increased Focus on Renewables will Ensure Reduced Dependence on Thermal Fuel
3.5 Nuclear Power to Receive Impetus in the Light of Declining Thermal Power Production
4 APPENDIX
4.1 Abbreviations
4.2 Methodology
4.2.1 Coverage
4.2.2 Secondary Research
4.2.3 Primary Research
4.2.4 Modeling and Forecasting
4.3 Contact Us
4.4 Disclaimer
LIST OF TABLES
Table 1: Abbreviations
LIST OF FIGURES
Figure 1: Fuel Mix in Power Generation Skip to top