Economics of Renewable Electricity [Currently]
Expert insight, articulated in layman’s terms, from the key people currently shaping the UK renewable electricity landscape, at megawatt (MW) & gigawatt (GW) scale.
Within this thirty minute insightful interview, key challenges and opportunities are raised, including: supply & demand; LCoE (levelized cost of energy); centralised vs distributed generation; lithium iron battery storage within electrical vehicles; energy independence & security from indigenous sources; economics and policy.
Watch out for Mr Davies’ revelation that price-comparisons between renewable and conventional electricity systems only work in terms of new-build… ie. one simply can’t compare the price of electricity generated by a new wind or solarPV farm which is planned, developed and then built over next few years, with the price of electricity generated by an existing Gas or Coal or Nuclear asset which is already up and running, and therefore fully or partly financially depreciated.
And toward the end, listen for the call-to-action: in terms of getting us from where we are now [facing the switching off of conventional generating assets, many of which are already operating beyond their original design life] to where we need to be [planning, developing and building a diverse portfolio of new indigenous systems for low-carbon electricity, heat and transport fuels] uncertainty, of any kind, is what stifles investment. The current political & economic landscape results in a lack of any meaningful long-term pricing mechanism for investment in energy infrastructure.