Whilst the funeral for the NEG continues this article claims that “research analyst at Swiss investment bank UBS believes the cost of energy renewables could be so near to zero by 2030 “it will effectively be free,” according to a projections published on Monday. If renewables could soon be cheaper than all the alternative energy sources, and that this “is great news for the planet, and probably also for the economy.” In other word renewables will kill coal!
Don’t forget this is from UBS, a respected investment bank, not some lefty greeny think tank!
In fact the UK grid, so far this year, has experienced 1,000 coal free hours! According to Quartz there “are two reasons for the shift: a carbon tax on coal has made cleaner natural gas more attractive, and subsidies for solar and wind power have ensured wider deployment of new clean-energy technologies.”
The great lie of the Australian Government’s “technology agnostic” approach is exposed for the Emperors New Clothes that it is. All promising new technologies require assistance because the long tern gains far outweigh the upfront costs. “Technology agnostic” = support coal producing political friends.
Luckily business is now inoculated against Government inertia and will simply make rational decisions to avoid coal. Renewables will rule the energy market in the decades to come, politics be damned!