Energy: Government subsidies for renewable fuels (for example - total amount of subsidies as a percentage of GDP)

The IEA estimates subsidies to fossil fuels that are consumed directly by end-users or consumed as inputs to electricity generation. The price-gap approach, the most commonly applied methodology for quantifying consumption subsidies, is used for this analysis The price gap is the amount by which an end-use price falls short of the reference price and its existence indicates the presence of a subsidy. In a given economy, the basic calculation of subsidies for a product is: Subsidy = (Reference price - End-user price) × Units consumed