Inquiry into the economics of renewable energy: IET comments to the House of Lords Economic Affairs Committee.
In developing renewable energy policy, understanding the “timescales” is as important as understanding “cost”. This aspect is particularly lacking from public debate. The cost data for renewable energy contain huge variable elements, particularly as we compete for manufacturing capability and expertise in a global marketplace. They can also change substantially over time due to factors that are not entirely rational or predictable. Recent increases in oil prices, if sustained, have the potential to be transformational to the economics of renewable energy, and also energy efficiency. The factors that need to be taken into account when estimating future costs of renewable energy technologies are detailed.
Submission Details Submitted on 16 June 2008 to House of Lords Economic Affairs Committee