We’re constantly told that renewable energy will be abundant and dispatchable enough such that we can close down nuclear, coal, and gas power plants. And then Germany comes along to admit the nonsense, in this pair of headlines just three months apart:
The second great green lie is that renewable energy will be cheaper. Well:
[Hat tip: Willis Eschenbach]
More here from the Daily Mail:
Germany faces electricity shortages that will see critical industries ditch the country after the government decided to shut down the last remaining nuclear power plants in favour of renewable energy sources, business chiefs have warned. . .
This also from Bloomberg:
Flood of US Renewable Projects Risks ‘Breaking’ Power Markets
The potential for a flood of US renewable projects driven by new tax incentives is at risk of “breaking” power markets by pushing electricity prices to negative levels, according to Wells Fargo.
When building wind and solar farms, which can run for 20 or 30 years, becomes more of a tax play than about generating cash, electricity prices can fall to zero or lower, Alok Garg, head of renewables and asset finance at Wells Fargo, said at the Acore Finance Forum in New York on Wednesday. The potential for revenue is falling for the renewable industry just as government incentives are getting bigger, he said.
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