'Cost of energy must be the focus above net zero'
DECARBONISATION must be done in a cost-effective way, the director of a think tank concerned about climate change policies has said.
Global Warming Policy Foundation director Benny Peiser was speaking at a Guernsey Policy and Economic Group lunch at the Old Government House Hotel.
Mr Peiser said that the global energy cost crisis was the most pressing issue facing business and households now, and that governments should focus on how to best bring current energy costs down rather than focusing on achieving a net zero target of greenhouse gas emissions by 2050.
‘I am in favour of decarbonisation, but it must be done in a way that is cost-effective to the consumer. Net zero is failing in many countries and costs are still sky-high.’
He said that renewable energy sources such as solar panels were too expensive for many households to be able to afford.
‘It costs several thousands of pounds to install solar panels, and even once they’re installed it would be 15 or 20 years before people see any sort of financial return on them, because we don’t get enough sunlight in this part of the world.’
He said that he would like to see a ban on renewable energy subsidies, as well as the commencement of fracking.
‘If you were to ban subsidies, it would increase market competition which would drive costs down. It would mean that more gas and coal would be used, but I think it’s important to be pragmatic about the situation we are facing with energy costs.’
Also speaking at the lunch was Little Green Energy Company CEO Bob Beebe.
He rebutted Mr Peiser’s concerns, saying that his company took an asymmetrical viewpoint to his views on net zero.
‘I think most people on the island would disagree with Benny’s views,’ he said.
‘Guernsey is punching above its weight in terms of the different sources of renewable energy we produce. It’s about introducing these renewable energy measures now so that we are able to reverse the climate changes that are already taking place.’
He said that acting now was important due to the environmental impact climate change had already had on the island, highlighting that Guernsey had lost 80 species of insects in the last 100 years.
He was fully supportive of Environment & Infrastructure’s preferred choice of pathway ‘D’ as part of the island’s proposed new electricity strategy.
Under the strategy, which is estimated to cost £1.73bn. between now and 2050, wind power would supply more than half of the island’s electricity needs, while 10% would be generated by solar power.
The remaining third would come from a new direct cable link with France.
‘We have a mix of generation and supply, and option D will allow us to further diversify. We will have energy being imported from France, solar power, and thermal energy. It will put us in a really strong place to deal with every type of weather,’ Mr Beebe said.
