No one knows
Paul Homewood
The seventh carbon budget covers 2038-2042 and the media has covered it well so you may be aware of the main suggestions. By 2040, we must:Reduce greenhouse gas emissions by 75%Three-quarters of cars on electric roadsDrive lessMake half of the houses have a heat pump, which means gas boilers are effectively banned by 2035Reduce meat and dairy consumption by a quarter.put Potential restrictions flight
We should all do this, and nothing else in the world!
However, the cost issue is hardly mentioned in Pro-Net Zero Media.
For example, the BBC is just repeating Emma Pinchbeck's lies:
In recent years, the cost of responding to climate change has been highly politicized.
The CCC estimates that most of the costs will be borne by the private sector and calculate savings from the early 2040s to the transfer of more efficient technologies from the transfer to more efficient technologies.
“In this carbon budget, in this analysis, we are starting to see the economy saves from this investment for the first time and how much they will save if we remain dependent on fossil fuels,” Ms Pinchbeck told BBC News.
The CCC believes this will improve energy security and filter to lower bills over the long term to make the government cheaper electricity.
It recommends removing policy costs from electricity bills – funds from social and environmental programs. This will cut them by about 19% based on the expected 2025 price, making people more cost-effective and making people more cost-effective, CCC said.
These fees may depend on gasoline bills or general taxes.
“Whatever your view on climate change, what we are doing today is a huge industrial revolution,” Ms. Pinchbeck said.
“It will save money on economics in 2040, saving people money, and thus saving people’s driving costs, but all of this is based on cheap electricity prices.”
https://www.bbc.co.uk/news/articles/c70ekknr2rwo
According to the CCC, additional capital expenditure and OPEX will reach £319 billion by 2040. But after 2040, renewable costs will miraculously fall, making us all better, reaching hundreds of millions of dollars.
Don't mind the fact that we will die halfway by then!
However, all costs are based on two highly unrealistic assumptions:
Renewable energy costs decline
The CCC makes assumptions about the cost of wind and solar energy, which is not only unrealistic, but also contradicts current prices.
For offshore winds, for example, their cost is based on the price of £51.12/MW this year, down to £37.60/MWh in 2030. (All based on 2023 prices). However, the latest strike price is already £82/MWh and there are all signs that it will rise again this year.
Similar to their current solar energy of £46.00, it will drop to £34.42 by 2030. However, the AR6 price is £69.
Based on current hit prices, CCC uses 2040's power generation profile to underestimate its cost by about £16 billion. Throughout the period by 2050, we are looking for a price of about £400 billion.
The comparison with the false cost of CCC with the NESO's figures is shocking. NESO said in their Clean Energy 2030 plan that we need to spend £48 billion a year until 2030 on capital expenditure on electricity supply. The CCC figure is only £18 billion, and its capacity has increased.
Electric Vehicle Parity
The second big lie involves the cost of buying an electric car.
We've heard the same nonsense over the years, but electric cars are still a good £10k, and there's no evidence that this gap has narrowed in recent years.
From now until 2040, the CCC calculates that car owners will be worth £6 billion higher due to “cheap electric cars”. In fact, at the current price level, the annual price will be £20 billion.
No one knows what will happen after 2040, and the CCC claims that their doings suggests that the report is fake. It is fair enough for them to establish risks and opportunities in the assessment – if the EV price drops, the driver “probably” better. However, they dishonestly released a report in which the central case is based on such a fragile, highly unlikely and optimistic savings.
Electric vehicles and renewable energy scams together could mean they will have their net net costs as low as £700 billion. It is not full of confidence that their other costs will be under scrutiny.
It is obvious that this carbon budget report was specially prepared to make a net criticism of the cleanliness and that it will have a catastrophic impact on the economy and people's living standards. Apparently, it was meant to give Ed Miliband a policy cover that shows that the CCC is not “independent” at all.
It's like a sleek brochure from a timeshare company that fails to tell you the actual cost of signing up, the fact that the advertised villa hasn't even been built yet, and you may find it's double booked when you want it!
I will introduce technical knowledge in detail tomorrow.
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