The Conversation: “renewable energy still cannot compete with oil and gas”
19 hours ago Eric Worrall
Essay by Eric Worrall
First published JoNova; Even in green energy subsidised Britain, developing renewables does not make economic sense.
Why wind farm developers are pulling out at the last minute
Published: June 10, 2025 2.41am AEST
Thomas York
Postgraduate Researcher in Human Geography, University of Leicester
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The government aims to generate at least 43GW of offshore wind power (current capacity is 14.7GW) and 95% of all energy from renewable sources by 2030.
These targets are now in jeopardy. The cancellation of Hornsea 4 follows a similar decision by Swedish developer Vattenfall, which stopped work on its 1.4GW Norfolk Boreas wind farm in 2023.
Building a wind turbine requires significant amounts of steel, copper and aluminium, all of which doubled or tripled in price between 2020 and 2023. Turbine manufacturers have raised prices in an effort to recover recent losses. This affects the profitability forecasts of wind energy developers like Ørsted and the viability of each of their projects.
https://wattsupwiththat.com/2025/07/13/the-conversation-renewable-energy-still-cannot-compete-with-oil-and-gas/
