![]() ![]() Levels of consumer support spending have also increased in emerging and developing economies, largely through governments compensating energy companies for operating losses borne by keeping prices stable during the energy crisis. ![]() The European Union is responsible for two-thirds of government affordability support worldwide, having borne some of the steepest increases in electricity and gas prices in 2022.Around 30% of this affordability spending has been announced in the past six months, and despite calls to better target households and industries most in need, only 25% of affordability measures are targeted towards low-income households and most-impacted industries. Since the start of the global energy crisis, governments have also allocated USD 900 billion to short-term consumer affordability measures, additional to pre-existing support programmes and subsidies. ![]() Among all measures tracked since 2020, direct incentives for manufacturers aimed at bolstering domestic manufacturing of clean energy now total to around USD 90 billion. The newest outlays identified are predominately aimed at boosting mass and alternative transit modes, low-carbon electricity generation projects and low-carbon vehicle sales. This slowdown may be short-lived, however, as a number of additional policy packages are being considered in the European Union, Australia, Brazil, Canada and Japan. Around USD 130 billion of new government spending to support clean energy investments were announced in the last six months – among the slowest periods for new allocations since the pandemic. Government spending has played a central role in the rapid growth of clean energy investment since 2020, which rose nearly 25% from 2021 to 2023, outpacing growth in fossil fuels in the same period.
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