Demands for more subsidy expose the illusion of falling wind power costs
MARCH 1, 2023
By Paul Homewood
“The belief in falling wind power costs is the central foundation of the government’s Net Zero enterprise, and it is demonstrably false. The absurdity of current Net Zero plans is now exposed for all to see.”
London, 1 March – Net Zero Watch is highlighting the fact that claims of falling wind power costs are contradicted by demands from wind power operators for additional subsidies on top of existing support.
This debate has been in progress since 2017, when research published by the Global Warming Policy Foundation indicated that the wind industry’s bids for Contracts for Difference subsidies (CfDs) were absurdly low and did not reflect underlying capital and operating costs.
These observations were confirmed by alternative methodologies and by other authors (details are given below), and critics repeatedly predicted that the industry would eventually beg for more subsidy.
Confirmation that we were correct can be found in the fact that the Financial Times is now reporting that wind farm developers, including the industry giants Vattenfall and Ørsted, are asking for tax breaks in the forthcoming budget, offering the spurious justification that inflation has made uneconomic their low Contracts for Difference contracts awarded for delivery in 2024 (FT: "Wind Farm Developers demand UK tax Breaks to offset Rising Costs”).
https://notalotofpeopleknowthat.wordpress.com/2023/03/01/demands-for-more-subsidy-expose-the-illusion-of-falling-wind-power-costs/
