For a while now we have said that the renewable craze is largely a side effect of ultra-cheap money and low inflation. Well, it seems the chickens are now coming home to roost. According to The Guardian: From the article: But relying on central bank rate rises in the current situation is folly for another reason: the reality of the climate crisis, which now greatly complicates the task of central banks and policymakers. One reason is obvious: higher interest rates considerably slow down the renewable energy transition. This happens in two ways. First, newly applied renewable energy technologies, which have relatively large front-loaded costs, are more competitive (relative to the already installed fossil fuel technologies) only when interest rates are low. Engineering studies show that the levelized cost of electricity (LCOE) of solar photovoltaics (PV) and wind onshore will increase by 11% and 25%, respectively, if interest rates are […]
Read the Whole Article From the Source: internationalman.com
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