https://www.msn.com/en-us/money/markets/the-renewables-fantasy-is-coming-crashing-down/ar-AA1grtwk

The Government’s latest auction for renewable energy contracts has not been a success. There have been no offshore wind bids, and the “Saudi Arabia of wind” (Boris Johnson’s excitable claim for the potential of the industry in Britain), looks
more like Yemen.

To achieve net zero by 2050, Britain needs to decarbonise electricity production fast and early. Then, more than double it to cope with the electrification of heat and transport and provision of back-up power for cloudy still days, particularly in
winter. Key to doing so is the delivery of acres of offshore wind, with a target of 50GW of capacity by 2030, up from 14GW today.

Offshore wind is easier to build than onshore, fewer pesky Nimbys to raise objections, even after this week’s win for deregulation. It’s more useful than solar, with load factors between 30-65 per cent rather than 10-15 per cent, which is the
difference between claimed capacity and actual output. It’s faster to build than nuclear, and less unpopular. It isn’t as restricted by geography as tidal and hydropower, and it’s certainly more affordable than green hydrogen, an imagined fuel of
the future.

What it isn’t, however, is cheap. (end snip)

No Bids. That says it all.

ScottW

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