Posted by Richard Willett - Memes and headline comments by David Icke Posted on 17 May 2024

Debunking the Cheap Renewables Myth

Last week, I decided to write an X post to summarise how much we are paying for renewables. It got far more traction than I anticipated, so I thought it would be helpful to convert it and extend it a little to make an article that can act as a succinct response to all those who still insist on claiming renewables are cheap.

In the U.K., renewables are subsidised by three different schemes. Feed-in-Tariffs (FiTs) fund mostly solar power. The latest report for 2022-23 shows the scheme cost over £1.7bn and average total payment was around £193 per MWh, about three times the current cost of gas-fired power at around £65 per MWh (see Figure A).

Contracts for Difference (CfDs) fund a range of technologies, but most of the subsidy goes to offshore wind. Latest data from the LCCC shows the subsidy per MWh fell dramatically during the energy crisis, but is now back at £95 per MWh for offshore wind, £73 per MWh onshore and £60 per MWh for solar. April 2024 was a record month for overall subsidies with £268m paid out with average strike prices at £146 per MWh for offshore wind, £113 per MWh for onshore and £110 per MWh for solar power (see Figure B)

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