{"id":367216,"date":"2025-02-22T11:34:19","date_gmt":"2025-02-22T10:34:19","guid":{"rendered":"https:\/\/climatescience.press\/?p=367216"},"modified":"2025-02-22T11:34:21","modified_gmt":"2025-02-22T10:34:21","slug":"renewable-subsidies-set-to-top-12-billion-in-2024","status":"publish","type":"post","link":"https:\/\/climatescience.press\/?p=367216","title":{"rendered":"Renewable Subsidies Set to Top \u00a312 Billion In\u00a02024"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

<\/p>\n\n\n\n

From NOT A LOT OF PEOPLE KNOW THAT<\/a><\/p>\n\n\n\n

By Paul Homewood<\/p>\n\n\n\n

CfD subsidies cost us all a record \u00a32372 million last year.<\/strong><\/p>\n\n\n\n

\"\"
https:\/\/dp.lowcarboncontracts.uk\/dataset\/actual-cfd-generation-and-avoided-ghg-emissions<\/a><\/figcaption><\/figure>\n\n\n\n

Since the scheme started in 2016, the total cost has amounted to \u00a39.7 billion.<\/p>\n\n\n\n

Of last year\u2019s \u00a32.4 billion, wind power made up \u00a32.0 billion, with biomass accounting for most of the rest.<\/p>\n\n\n\n

With strike prices for new offshore wind agreed in last year\u2019s AR6 CfD round currently standing at around \u00a384\/MWh, it is worth noting the market price used for calculating subsidies averaged \u00a366\/MWh last year.<\/p>\n\n\n\n

Meanwhile ROC subsidies continue to climb, with Y\/E March 2024 reaching a new high of \u00a36883 million:<\/p>\n\n\n\n

\"\"
https:\/\/www.gov.uk\/government\/statistics\/energy-trends-section-6-renewables<\/a><\/figcaption><\/figure>\n\n\n\n

DESNZ only have ROC data to September 2024, but the 12 months to then work out at a cost of \u00a37.7 billion at current prices.<\/p>\n\n\n\n

And on top of that come Feed in Tariffs, the subsidy scheme for small scale renewable generators, which cost \u00a31.8 billion in 2023\/24.<\/p>\n\n\n\n

\"\"
https:\/\/www.ofgem.gov.uk\/publications\/feed-tariffs-annual-report-scheme-year-14-april-2023-march-2024<\/a><\/figcaption><\/figure>\n\n\n\n

Altogether the three schemes, CfD, ROC and FIT, are likely to have cost energy bill payers more than \u00a312 billion during 2024, when all the data is in.<\/p>\n\n\n\n

Since 2010, the combined cost has exceeded \u00a390 billion.<\/p>\n\n\n\n

Laughably OFGEM\u2019s logo says they are making a positive difference for energy consumers.<\/p>\n\n\n\n

You can say that again!!<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

CfD subsidies cost us all a record \u00a32372 million last year.<\/p>\n","protected":false},"author":121246920,"featured_media":367225,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_coblocks_attr":"","_coblocks_dimensions":"","_coblocks_responsive_height":"","_coblocks_accordion_ie_support":"","_crdt_document":"","advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[1],"tags":[691832924,691822351,691819094,691818299],"class_list":{"0":"post-367216","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","6":"hentry","7":"category-uncategorized","8":"tag-contract-for-difference-scheme-cfds","9":"tag-energy-bill","10":"tag-renewable-green-energy","11":"tag-subsidies","13":"fallback-thumbnail"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/02\/0green-energy.jpg?fit=3000%2C2000&ssl=1","jetpack_likes_enabled":true,"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/paxLW1-1xwQ","jetpack-related-posts":[{"id":360575,"url":"https:\/\/climatescience.press\/?p=360575","url_meta":{"origin":367216,"position":0},"title":"CfD Subsidies Hit Record High In\u00a02024","author":"uwe.roland.gross","date":"05\/01\/2025","format":false,"excerpt":"CfD subsidies hit a record high of \u00a32362 million last year, beating the previous record set in 2020, when market electricity prices were exceptionally low because of lockdowns. The LCCC data runs up to Dec 22nd, so the final figure for 2024 will be slightly higher still.","rel":"","context":"In \"2024\"","block_context":{"text":"2024","link":"https:\/\/climatescience.press\/?tag=2024"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/01\/0philippines-renewable-energy-continues-to-boom.jpg?fit=1024%2C684&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/01\/0philippines-renewable-energy-continues-to-boom.jpg?fit=1024%2C684&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/01\/0philippines-renewable-energy-continues-to-boom.jpg?fit=1024%2C684&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/01\/0philippines-renewable-energy-continues-to-boom.jpg?fit=1024%2C684&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":376688,"url":"https:\/\/climatescience.press\/?p=376688","url_meta":{"origin":367216,"position":1},"title":"Renewable Subsidies Database","author":"uwe.roland.gross","date":"28\/04\/2025","format":false,"excerpt":"John Cullen suggested a go-to resource for up-to-date data on renewable energy costs and subsidies.","rel":"","context":"In \"Capacity Market\"","block_context":{"text":"Capacity Market","link":"https:\/\/climatescience.press\/?tag=capacity-market"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/04\/image-648.png?fit=1024%2C1024&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/04\/image-648.png?fit=1024%2C1024&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/04\/image-648.png?fit=1024%2C1024&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/04\/image-648.png?fit=1024%2C1024&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":363795,"url":"https:\/\/climatescience.press\/?p=363795","url_meta":{"origin":367216,"position":2},"title":"Record \u00a32.4 Billion in CfD Subsidies Paid Out in 2024","author":"uwe.roland.gross","date":"29\/01\/2025","format":false,"excerpt":"Hot on the heels of the record payments made under the Feed-in-Tariff scheme in the year to end March 2024, the data is now available for subsidies paid under the Contract for Difference Scheme (CfDs) in calendar year 2024. The data comes from the Low Carbon Contract Company (LCCC). The\u2026","rel":"","context":"In \"Contract for Difference Scheme (CfDs)\"","block_context":{"text":"Contract for Difference Scheme (CfDs)","link":"https:\/\/climatescience.press\/?tag=contract-for-difference-scheme-cfds"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/01\/0Untitled-design.jpg?fit=1200%2C675&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/01\/0Untitled-design.jpg?fit=1200%2C675&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/01\/0Untitled-design.jpg?fit=1200%2C675&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/01\/0Untitled-design.jpg?fit=1200%2C675&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/01\/0Untitled-design.jpg?fit=1200%2C675&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":344739,"url":"https:\/\/climatescience.press\/?p=344739","url_meta":{"origin":367216,"position":3},"title":"Renewables Subsidies Hit New August Record","author":"uwe.roland.gross","date":"01\/10\/2024","format":false,"excerpt":"The Low Carbon Contract Company (LCCC) manages the Contracts for Difference (CfD) subsidy scheme and\u00a0publishes data\u00a0to show how much it costs us. The data is usually published about 10 days in arrears and sometimes is adjusted. Now, we have the full data for August 2024, and it has settled down\u2026","rel":"","context":"In \"Contracts for Difference (CfD)\"","block_context":{"text":"Contracts for Difference (CfD)","link":"https:\/\/climatescience.press\/?tag=contracts-for-difference-cfd"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/10\/0philippines-renewable-energy-continues-to-boom.jpg?fit=1024%2C684&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/10\/0philippines-renewable-energy-continues-to-boom.jpg?fit=1024%2C684&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/10\/0philippines-renewable-energy-continues-to-boom.jpg?fit=1024%2C684&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/10\/0philippines-renewable-energy-continues-to-boom.jpg?fit=1024%2C684&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":373587,"url":"https:\/\/climatescience.press\/?p=373587","url_meta":{"origin":367216,"position":4},"title":"New Strike Prices Confirm Offshore Wind Is Much Dearer Than\u00a0Gas","author":"uwe.roland.gross","date":"04\/04\/2025","format":false,"excerpt":"Of particular interest are the contracts offered in last summer\u2019s AR6 round. Offshore wind, for example, has been uplifted to \u00a384.97\/MWh.","rel":"","context":"In \"Catalyst Energy report\"","block_context":{"text":"Catalyst Energy report","link":"https:\/\/climatescience.press\/?tag=catalyst-energy-report"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/04\/0UK-offshore-wind-farm-Christopher-FurlongGetty-Images-scaled-1.jpg?fit=1200%2C636&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/04\/0UK-offshore-wind-farm-Christopher-FurlongGetty-Images-scaled-1.jpg?fit=1200%2C636&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/04\/0UK-offshore-wind-farm-Christopher-FurlongGetty-Images-scaled-1.jpg?fit=1200%2C636&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/04\/0UK-offshore-wind-farm-Christopher-FurlongGetty-Images-scaled-1.jpg?fit=1200%2C636&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/04\/0UK-offshore-wind-farm-Christopher-FurlongGetty-Images-scaled-1.jpg?fit=1200%2C636&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":327470,"url":"https:\/\/climatescience.press\/?p=327470","url_meta":{"origin":367216,"position":5},"title":"CfD Subsidies Rising Again, As Market Prices\u00a0Fall","author":"uwe.roland.gross","date":"08\/05\/2024","format":false,"excerpt":"We have now got the full data in from the Low Carbon Contracts Company concerning CfD subsidies for 2023\/24.","rel":"","context":"In \"2023\/24\"","block_context":{"text":"2023\/24","link":"https:\/\/climatescience.press\/?tag=2023-24"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/05\/0subsidie.jpg?fit=1110%2C833&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/05\/0subsidie.jpg?fit=1110%2C833&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/05\/0subsidie.jpg?fit=1110%2C833&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/05\/0subsidie.jpg?fit=1110%2C833&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/05\/0subsidie.jpg?fit=1110%2C833&ssl=1&resize=1050%2C600 3x"},"classes":[]}],"_links":{"self":[{"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/posts\/367216","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/users\/121246920"}],"replies":[{"embeddable":true,"href":"https:\/\/climatescience.press\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=367216"}],"version-history":[{"count":5,"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/posts\/367216\/revisions"}],"predecessor-version":[{"id":367226,"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/posts\/367216\/revisions\/367226"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/media\/367225"}],"wp:attachment":[{"href":"https:\/\/climatescience.press\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=367216"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/climatescience.press\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=367216"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/climatescience.press\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=367216"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}