2023-10-26
First up, NetZeroWatch:
"Campaign group Net Zero Watch says that the wind industry has effectively admitted that it has been deceiving the British public over the cost of the energy 'transition'. RWE Renewables has just told the Government that it needs its subsidy 'strike price' to rise by 70% if any more wind farms are to be built"
Whilst this comes as no surprise to those of us who follow such matters, given the already accelerating price of power in the UK, it doesn't really take much imagination to see that this sort of price trajectory is in nobody's interests, nor is it slowing down. After so many years of subsidies to "kick-start" the green revolution, "renewables" are still unable to stand on their own feet. Will the subsidies ever end? Only when the populace rise up and say "no more".
Second up, Zerohedge reports that Siemens Energy shares in Germany are crashing as it grapples with "quality issues and offshore ramp-up challenges".
They are "in preliminary talks with different stakeholders, including banking partners and the German government, to ensure access to ... guarantees necessary to facilitate the anticipated strong growth" - classic investment-speak for "it's not sustainable (!), but with an undefinable large wodge of unanticipated good luck (and somebody else's money) it can all come right (... eventually ... maybe ...) ".
And thirdly, Fortune and Freedom pointed up another more or less inescapable reason why the green energy transition isn't going to work, even if solar panels and wind turbines could ultimately be made to function - this green energy can be neither transported geographically nor stored at acceptable (or even feasible) cost in the volumes required to enable flexible response to local supply fluctuations. Unlike coal, oil, and even gas.
And guess which of these energy sources are most prone to supply fluctuations?
So there you have it - it's still mired in multiple infeasibilities - and now threatening collapse.
Will nobody put it out of its misery?
2023-10-27
See also this account from an Aussie, who has spent years developing renewable resource for living off-grid in Victoria. The conclusion:
"It matters nought that you have massive renewable generation capacity if you can’t store power for extended periods"
Also, if you need more, here is Nigel Farage (Fortune and Freedom again) underlining the point.
(NB: I'm not suggesting any investment advice here! I include it despite politics being inextricably bound up with investment issues)
