Wind energy now much cheaper than nuclear
The latest round of subsidy awards to offshore wind energy show the rapid decline in the costs of deployment. Larger turbines with bigger outputs mean that wind is now much cheaper than nuclear - the guaranteed rate of £92.50/MWh offered for Hinkley C is looking more bonkers by the week - and it is apparent that as wind costs keep falling, the cost of new nuclear will be way off the market rate by the time Hinkley C starts generating, assuming it ever does so.
The FT reports on this positive trend here.
If the prospect of cheap energy for your business appeals, there is more good news; solar on your roof produces electricity at a rate which is much cheaper than wind. Some of our customers are getting a unitised rate below 5p per kWh, fixed for 25 years. You can talk to us about how your business can benefit from long term, cheap electricity, contact us here.