Climate Change
Climate Change
Out of context: Reply #379
- Started
- Last post
- 602 Responses
- shapesalad-1
The past 10 years or so we have enjoyed cheap money and cheap energy. This has meant that money has been pumped into renewable energy sector - wind / solar. And the cheap energy costs of oil, has meant it's been cheap to manufacture renewable energy equipment - windmills, solar panels.
The cost of renewable energy has come down, but with oil being cheap, the argument was cheap oil makes renewable non competitive.
Wrong. Cheap oil mean the renewable sector was able to come to fruit.
Now we are at a pivot point - money is becoming more pricey, due to interest rates rising. Oil is getting pricey due to confluence of factors.
Renewable is going to hit a stumbling block very quickly.