Is A Greener Economy An Expensive One?

The contradiction of cheaper renewables and growing energy bills.

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While the midway point of the decade approaches, the UK’s 2030 Net Zero promise of clean electricity rises on the horizon. As we substitute our ice creams for hot chocolates and Crocs for a pair of Uggs, it is that time of the year when families across the country quarrel over switching on the heating or going without.

After another year of being inundated with depressing news, reading on the UK’s 2024 electricity generation filled me with hope. I was initially happy that low-carbon renewables generated more electricity than fossil fuels this year, making up 37%. In particular, on-shore wind electricity generation soared by 23% and overtook gas as the primary electricity source in the first 3 quarters of the year. Finally, it appeared that the UK used its miserable weather for good. Franco Mayo on also highlighted the end of 142 years of burning coal, subsequently grouping the UK with that are now coal-free. Another win to the list.

However, while the 2024 COP conference occurred, reported that high-energy bills would be the new normal, predicting a 1% increase in the typical annual bill. It is hard for many to be optimistic about climate goals achieved or…