A renewable fantasy

Wind TurbineThis July 6th WSJ editorial on the fantasy of relying on renewable energy is a must read. Here’s a few good quotes from the article to get you started.

Recently Bill Gates explained in an interview with the Financial Times why current renewables are dead-end technologies. They are unreliable. Battery storage is inadequate. Wind and solar output depends on the weather. The cost of decarbonization using today’s technology is “beyond astronomical,” Mr. Gates concluded. …

Advocates of renewable energy such as Deutsche Bank anticipate that electricity from solar panels will cost the same as electricity from the grid (so-called grid parity) in the not-too-distant future. But none suggest that solar can do so now without subsidies. And as Germany, Britain and other European countries are finding out, overt subsidies are only one part of the cost of renewables. …

Mr. Obama’s renewable target is a triumph for Shumacher’s Buddhist economics—which amounts to being poor and staying poor. It does not produce jobs, growth or prosperity.

24. July 2015 by Jason Hayes
Categories: Emissions, Energy, Environment, Policy, Power Generation | Tags: , , , | Comments Off on A renewable fantasy