World turns different shade of green as costs bite

Ambitious plans to greatly boost renewable energy to cut carbon dioxide emissions have collided with political and economic reality in Britain, Germany and the US.

The newly re-elected Conservative government of David Cameron has started to cut billions of pounds from renewable energy subsidies.

For several weeks British newspapers, including The Financial Times, The Independent, The Times and The Daily Telegraph have detailed the Cameron government’s determination to stop runaway electricity prices and check green energy spending. Britain has announced ambitious plans to cut emissions by boosting renewable energy, on a similar scale to those now proposed by the ALP.

But as in Australia with the carbon tax, there has been a strong backlash to rising electricity costs, which now include £4.3 billion ($9bn) of green scheme subsidies.

Continue reading Graham Lloyd's story for The Australian here

A graph: Cost of different forms of energy generation vs cost per megawatt hour

Graph: Outputs from renewables under ALP's 50pc target

Graph: Australia's prime energy consumption 2011

Institute of Public Affairs, ACIL Allen

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