Government legislation compels energy supply companies to pay 10 times the normal rate to renewable generators. Its obvious that by the time 10% of our energy is from such sources, the price to the consumer must be doubled.
If 50% of all electricity is provided by renewables, it would seem that the price will have been doubled five more times over what coal, gas, or nuclear might have been.
Talking to a chap in the industry who supplies photovoltaic panels he told me that his £125 panel *10=£1250 for an average domestic installation. This rises to a total domestic installed cost of £12,000. I know that there are installation costs and a grid tied solid state inverter, but profits like this encourage great greed by installers and clients.
This is truly the economics of Mickey Mouse.
The European Union must make a drastic shift from fossil fuels and derive more and more of its power from renewable sources, driving up electricity costs over the next two decades, according to a draft document seen by Reuters on Monday
http://www.reuters.com/article/2011/10/17/us-regulation-carbon-idUSTRE79G5XX20111017
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