How much is it going to cost to decarbonise the economy?
April 27, 2009 by Chris Goodall
The government wants to emphasise the affordability of climate change mitigation. It produces low estimates of the cost of low-carbon technologies. In the recent 2009 budget documents, the government estimated a cost of 1% of GDP to meet the tough new 2020 targets. In his pronouncement on carbon capture at coal-fired power stations, energy and climate change secretary Ed Miliband later said that his proposals will add 2% to electricity bills. Are these numbers reasonable? Professor Sir David King, the former chief scientific adviser, says no. In a BBC interview of 26 April, he indicates that he thinks that the cost of reducing the UK's emissions is much higher than the government indicates but also that the financial implications of not dealing with the climate change threat are far higher than even Nick Stern suggests.
April 27, 2009 /Chris Goodall
carbon capture, carbon reduction initiatives, Climate Change Committee, Ed Miliband, fossil fuels, nuclear, politics, power generation, Professor Sir David King, renewables, Stern Review, technology