Wind-Soar-Batteries have strong natural constituencies precisely because they consume vast natural resources and produce crap power, requiring even more backup and resources. It's absurd. Bash is in the business and comments frequently on Substack. Grift. Clear as day. The investors don't give one hoot for the actual power produced. They grease the right palms and we consumers get the shaft. Every. Single. Time. This is the underlying cause of the problems @
I have covered the hidden costs of supposedly cheap renewables in my new substack.
Have you ever wondered why the UK has the highest electricity prices among its economic competitors despite spending billions on renewables?
When you provide cheap money you create market distortions. This has been seen in the crazy Tech and Crypto worlds where money was thrown at anything with a half decent pitch deck. Even in oil, the hyper low interest rates drove the shale boom. The flip side is that cheap money goes into sub-economic projects. Eventually though the money wises-up and the economic reality reasserts itself. But as you say, in the meantime, huge damage is done and grifters will extract unimaginable rent from joe public.
I am interested in a back of the napkin analysis of costs for wind producing electrical energy for pumped hydro. The capital cost, maintenance costs, operating costs. Some guy on Twitter was boasting about the excess wind energy in Belgium today, selling into the grid at 3€ MwH, a sign of dumping. Suggesting excess power is used for pumped Hydro.
What is the total cost to operate a wind to pumped hydro.
My guess is exceptionally expensive electricity, 100€ MwH
On fairness to the oil and gas industry. We are here more or less because of them. So they do deserve a payment. And that payment is to run out the infrastructure for a couple more decades. But for sure by then we better be serious about transitioning to nuclear. And if the oil and gas industry was serious and was willing to take that quid pro quo then equally it would be reasonable that in the next 20 years they use a lot of their capita, the have access to as much capital as any company has on earth, and prepare for that transition