Renewables have become very cheap – depending on how you do the calculations, cheaper than high-efficiency, new-build combined cycle gas turbines. Therefore, they should be able to be deployed ‘subsidy-free’. Indeed, we have seen a few, relatively small projects, which have taken the wholesale market price risk and been deployed without subsidy in the UK. But the more renewables we deploy, the more those renewables ‘cannibalise’ their own capture prices.
'Getting this right is a big deal – subsidy-free renewables could hit 60GW in NW Europe'
OPINION | Zero-subsidy wind and solar projects are on the horizon, but keeping worst-case scenarios in mind will be critical to unlocking the future-minded investment opportunity ahead, writes Hugo Batten
23 March 2018 7:46 GMT
Updated
23 March 2018 7:46 GMT
By