Tuesday 25th October 2016                 Change text size:

The real cost of renewable energy

The real cost of renewable energy

Myths and misconceptions about cost surround the renewable energy sector. Alex Blackburne debunks some of them, whilst looking into a new report that predicts future savings in households.

Whilst the majority of media outlets and industry bodies fully appreciate the need for renewable energy technology development, there are some, very few nowadays, that are still voicing outdated views and sparking unnecessary debate.

Two such organisations are the Adam Smith Institute (ASI) and the Daily Express.

The latter published an article earlier in the week entitled Energy bills to soar because of wind farms. It was in relation to a report from the ASI, one of the leading free market think-tanks in the UK.

The report, called Renewable Energy: Vision or mirage?, claims “renewable power technologies are neither economically competitive nor easily capable of providing the degree of energy security demanded by a developed society“.

Fullfact.org, an independent fact-checking organisation, claims the Express took a lot of its information out of context.  

A report released yesterday by the Committee on Climate Change (CCC) backed up this view, as it investigated the impact the increasing need to meet carbon reduction targets would have on household energy bills.

The report predicted that bills will increase to £190 a month, but that energy efficiency measures will contribute to £110 of that.  

Lord Adair Turner, chair of the CCC said, “We were keen to provide a dispassionate analysis of household bill impacts in what has become a politically controversial area.

“We found that bills have increased primarily in response to increased wholesale gas costs and not due to environmental policies.

“Over the next decade, we anticipate a rise of around £100 in the average bill as a result of investment in low-carbon power capacity, which will benefit the UK in the long run.

“And if we introduce new policies to stimulate energy efficiency improvement then bills in 2020 could broadly be contained at current levels.”

This rise in bill price is entirely necessary, though, as it will ensure a green future.

Previous predictions that future tariffs would be ‘astronomical’ are completely unfounded.

£190 a month should be a small price to pay for the longevity of the planet.

Contact Good Energy if you would like to find out more about investing in clean energy.

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