New study warns of soaring energy bills
Official Net Zero models have grossly understated costs.
It has recently been revealed that almost all major studies on Net Zero contain serious modelling errors, and thus have grossly underestimated the cost.[1]
A new paper from Net Zero Watch presents a new model of the 2050 electricity system that corrects these errors. It thus supersedes all the erroneous official studies.
The new paper also reveals that official studies have suppressed the apparent cost of Net Zero still further by using extreme speculations about the costs and efficiencies of all the equipment required in the 2050 grid.
According to Andrew Montford, the director of Net Zero Watch:
The Royal Society, for example, assume that the cost of almost everything will halve, and the efficiency of almost everything will soar. It’s not impossible, but it is imprudent to assume that it will happen.
If you correct the modelling errors, and use known costs and efficiencies rather than speculation about what might be available in 2050, you get a very different picture of the future.
The report warns that with current technology, the cost of a Net Zero grid would approach £8,000 per household per year. Mr Montford says.
The costs may come down somewhat, but policymakers need to be told what it would cost if they don’t. The numbers are staggering. The failure to explain the extreme nature of the underlying assumptions is culpable.
As a result of these problems, Net Zero Watch is calling for the Royal Society to withdraw its recent report [2] on electricity storage, because it is so misleading for policymakers.
The report can be downloaded below.
Costing the Green Grid
Click image to download
Notes for editors
Erroneous modelling by the Climate Change Committee and the National Infrastructure Commission was exposed first by the Sunday Telegraph, with further revelations, showing that the same or similar errors had been made by by National Grid ESO and the Royal Society, coming this week from Net Zero Watch.
The Royal Society report, entitled Large-scale Electricity Storage can be seen here.