Chart of the Month Vol. 12 | Financing low-carbon energy and supporting energy affordability in Greece and EU-27

In this 12th Edition, HAEE’s Chart of the Month focuses on governments’ energy spending in low carbon energy and energy affordability.

The global energy crisis triggered an unprecedented surge in energy prices and underlined the need to diversify energy sources by accelerating low-carbon energy investments. Towards this direction governments have mobilized an unmatched fiscal support to boost energy transition and mitigate energy costs.

Government spending earmarked for keeping energy affordable has reached almost USD 350 billion (43.7 % of the total) while the remaining are mostly concentrated for energy-efficient buildings/industry and low-carbon transport with a percentage of 19.6% and 20.4%, respectively. During the second quarter of 2020 till October of 2022 Italy’s government was the first with USD 174.9 billion spent on low-carbon investments and affordability measures followed by Germany (USD 172.7 billion) and France (USD 139.1 billion). EU-27 total expense is USD 797.9 billion.