For years the wind industry have told the public and politicians, incessantly, that wind power is now the cheapest form of generation. In recent weeks, they and their supporters have changed tack, arguing that material price rises and inflation mean that they can no longer make a profit without further subsidies and tax breaks, and that Contract for Difference (CfD) Round 4 developments, such as Hornsea 3, will not come on line unless ministers assent. Industry bodies that have insisted for the last six years that offshore wind can deliver power at less than £50/MWh now expect us to believe that they cannot make a profit. This doesn’t so much strain belief as blow it to smithereens. Market prices have averaged over £130/MWh this year, so even if input prices had doubled, windfarms should still have operating margins of 25%, an extraordinary level of profitability.
Read the whole report here:
Wind-briefing.pdf (netzerowatch.com)
via climate science
August 8, 2023 at 07:23AM
Iowa Climate Science Education 