The figure was part of the IEA’s World Energy Outlook 2010 presentation examining the energy sector region by region up until 2035. The report found that $57 billion was made globally available in subsidies last year to renewables projects.
It is the first time a global renewables subsidy figure has been calculated and includes wind, hydro, solar, geothermal and marine energy. Renewables subsidies are expected to rise to $205 billion by 2035.
The study found oil and gas were the most heavily subsidised fuels, attracting $126 billion and $85 billion respectively. The IEA said the phasing out of fossil fuel subsidies would "represent an integral building block for tackling climate change".