{"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":"","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_feature_clip_id":0,"_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":["post-367216","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-contract-for-difference-scheme-cfds","tag-energy-bill","tag-renewable-green-energy","tag-subsidies","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":283571,"url":"https:\/\/climatescience.press\/?p=283571","url_meta":{"origin":367216,"position":0},"title":"CfD Subsidies Increasing\u00a0Again","author":"uwe.roland.gross","date":"10\/16\/2023","format":false,"excerpt":"What kind of industry is this that only runs on subsidies? From NOT A LOT OF PEOPLE KNOW THAT By Paul Homewood Contracts for Difference subsidies are still costing energy users a lot of money. Between April and September 2023, subsidies of \u00a3640 million were paid out, nearly all for\u2026","rel":"","context":"In \"Contracts for Difference\"","block_context":{"text":"Contracts for Difference","link":"https:\/\/climatescience.press\/?tag=contracts-for-difference"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/10\/0offshore-wind-farm.jpg?fit=1200%2C754&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/10\/0offshore-wind-farm.jpg?fit=1200%2C754&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/10\/0offshore-wind-farm.jpg?fit=1200%2C754&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/10\/0offshore-wind-farm.jpg?fit=1200%2C754&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/10\/0offshore-wind-farm.jpg?fit=1200%2C754&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":252921,"url":"https:\/\/climatescience.press\/?p=252921","url_meta":{"origin":367216,"position":1},"title":"Contracts for Difference Subsidies On The Rise Again","author":"uwe.roland.gross","date":"04\/14\/2023","format":false,"excerpt":"The\u00a0renewable lobby\u00a0were quick to brag that the Contracts for Difference scheme was paying back money to energy users last year, when market prices of electricity spiked. But they have remained strangely silent since, now that market prices have fallen back, with the result that the subsidy conveyor belt is now\u2026","rel":"","context":"In \"offshore wind\"","block_context":{"text":"offshore wind","link":"https:\/\/climatescience.press\/?tag=offshore-wind"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/04\/0big-green.webp?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/04\/0big-green.webp?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/04\/0big-green.webp?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":360575,"url":"https:\/\/climatescience.press\/?p=360575","url_meta":{"origin":367216,"position":2},"title":"CfD Subsidies Hit Record High In\u00a02024","author":"uwe.roland.gross","date":"01\/05\/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. 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