Reply to post: Re: legal target

Re: legal target

The reason that Offshore wind (and renewables in general) have come down in price so much is due to initial subsidies that allowed scalability and reduced the risk. This has been shown to be paying off with major solar projects and wind often needing no subsidy at all.

Sadly, you are very wrong. Which I guess means the 'renewables' lobby have been successful in persuading people their product is affordable. Reality can be found here-

https://www.lowcarboncontracts.uk/cfds/hornsea-phase-1

Current strike price

140.00£/MWh

Which is around 3x the market price for electricity. Other offshore wind is even worse, ie Dudgeon gets £170/MWh. And it gets worse because those are long-term, indexed contracts guaranteeing the electricity produced will get ever more expensive. So Hornsea pockets around £400m a year in subsidies, and it's not even complete yet. And then-

https://www.ref.org.uk/constraints/indextotals.php

So £80m paid out to subsidiy farmers when there's no demand for their product.. Which also shows why the 'renewables' lobby is so keen for someone to throw billions at grid-scale storage & large stacks of batteries. Average constraint payment is £71, so more than market value but if it's delivered to a battery farm, then it can charge the £160-170/MWh rate.

Then given the battery farmers would want their snouts in the trough, if your input costs are £170+, what would your sell price be? Given losses charging/discharging and keeping batteries at the optimum temperature, you'd probably be looking at £200/MWh+, without even considering capital & operating costs.