The European Commission has published a thorough study regarding the different types of energy their cost. The result? The cheapest sources of energy come from solar and wind power.
While many argue that coal is cheap and government support for renewable energy is costly, fossil fuels have again been shown to cost more in the long term when taking into account health impacts, climate change, and resource depletion. While many state that those costs shouldn’t count since they are not within the realm of direct cost, it is hardly illogical to include them in the research for the overall cost, unless your vision only extends to the next election!
With that said, there are many variables at play both in the use of energy and variables in energy standards from country to country. For a more in-depth look, click here.
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Ah yes, but one item they didn’t factor in is the combination of knuckle-dragging neanderthals infesting Canberra & elsewhere (regardless of political affiliation), together with their avaricious dinosaur fuel cronies. Kickbacks & promises of uber-lucrative board positions will always outweigh any amount of common sense (not that the aforesaid neanderthals possess an excess of that particular commodity). I clearly recall the arguments in the 1970s claiming nuclear power was the best & most cost-effective thing since sliced bread …. mind you I believe that argument is a bit old after Three Mile Island, Chernobyl & wherever it was in Japan. Oil & coal are undoubtedly bad as well, its only that the big players have hitherto managed to chuck around sufficient $$$$$$$$$ to obtain favourable publicity.
On the other hand, it was disappointing to read this morning of the Tas Hydro decision to kill off the wind energy project on King Island in Bass Straight. They said, that even with no change to the RET support, it would not have been commercially viable. I imagined that it would deliver vital extra feed to the hydro power supply to the mainland, but it seems that they just won’t get enough revenue from the wholesale electricity price to cover the investment costs. I get the impression with both wind and solar, the greatest barrier is not so much the coal fired generator companies, but more likely the high tension transmission network owners and controllers. In other words, the cost of distribution.