From NOT A LOT OF PEOPLE KNOW THAT
By Paul Homewood
In this BBC report which I covered the other day, there was this statement:
The government and private investors have spent £198bn on renewable power infrastructure since 2010
I assume this includes the costs incurred by the National Grid in upgrading the network, on top of the cost of wind farms etc. Nevertheless I suspect the figure is understated, as a lot of what the National Grid spends goes under the radar.
Even so, this is an extraordinary amount, nearly £20 billion a year, and most has come in the last ten years, when renewable capacity really began to take off. Add on interest costs and profit margins, and you are looking at triple that number, all of which we will have to pay for in years to come, whether via taxation or higher energy bills.
And all for what? Most of this renewable capacity has to be backed up by existing dispatchable capacity.
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