‘It’s a big lie’ when environmentalists claim green energy is ‘cheap’

Renewable energy prices have skyrocketed while new wind and solar installations have plummeted over the last year, even as governments continue to forge ahead with ambitious climate plans.

While the U.S., European Union, other Western nations and international organizations have all pursued aggressive climate agendas that involve expanding renewable energy technology and infrastructure, prices have surged and profits have declined, according to industry reports and corporate earnings reviewed by the Daily Caller News Foundation. President Joe Biden has made a series of climate pledges, including a commitment to decarbonize the grid by 2035 and achieve net-zero economy-wide emissions by 2050, while pushing a long list of anti-fossil fuel policies.

Commodity markets tied to global renewable energy development have been roiled by inflation, supply chain issues stemming from the COVID-19 pandemic and, more recently, Russia’s invasion of Ukraine. Even as project demand has stayed high, industry profitability has declined because of these factors.

“One of the problems with this industry as a whole is that, since at its very foundation it is based on government subsidies and government mandates, its market value is never truly known,” Daniel Turner, the executive director of Power the Future, told the DCNF in an interview.

“It’s a big lie when the environmentalists say, ‘it’s cheap’ — we don’t know what it actually costs,” Turner continued. “It may be, I’m not denying it could be, but the fact is we don’t actually know what wind and solar cost.” – READ MORE