Building Low-Carbon UK Economy Will Cost Same as Continuing High-Carbon Infrastructure
While some Conservative politicians have claimed switching to renewables would be too expensive, the majority of Brits continue to want more Government support for clean energy. Even the Confederation of British Industry says environmental regulation doesn't have to be a burden.
That's why it's important news, as Business Green reports, that a new open-source analysis package, which was created by Professor David MacKay chief scientific adviser to the Department of Energy and Climate Change, is predicting a low carbon development path would cost only slightly more in terms of investments as updating the existing fossil-fuel intensive infrastructure between now and 2050. And that's not even taking into account the massive external costs of business-as-usual:
However, the cost of the "do nothing" option does not include the damage to the economy expected as a result of climate change, and the calculator notes that, according to the landmark Stern review: "This is the equivalent of up to £6,500 per person per year on average, on top of the cost of the energy system."