Wednesday, July 29, 2020

How inexpensive can renewable energy get?

This is headlined "Offshore Wind Is on the Brink of Becoming So Cheap, the UK Will Pay People to Use It." I don't know about that, but it is an intriguing and positive read.
The fossil fuel industry and its allies love saying that renewable energy increases utility bills. But in the UK, new research shows that coming offshore wind farms could actually make bills more affordable.
In the short term, previous renewable energy projects have increased bills because they’ve been built with government subsidies. But a study published in Nature Energy on Monday found that the country’s latest approved offshore wind projects will be built so cheaply that they’ll actually be able to pay money back to the UK government. That money will go towards reducing household energy bills.
“Energy subsidies used to push up energy bills, but within a few years, cheap renewable energy will see them brought down for the first time,” Malte Jansen, research associate at the Centre for Environmental Policy at Imperial College London, said in a statement. “This is an astonishing development.” - Earther

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