The latest scheme to reduce climate change:
\”After home insulation and more efficient boilers, we now need more intrusive things – double glazing, cavity wall insulation, solid wall insulation,\” he said.
\”We need much more of a whole house approach – one-stop shops where people can get a total report on what they need to do to their homes. It may be expensive – between £10,000 and £15,000.\”
The CCC believes that the cost of the scheme would be paid for by a combination of government subsidy and higher electricity bills.
Whether it\’s paid for by taxpayers, by electricity consumers of by householders directly, it\’s still a cost that has to be carried by the population.
Assume that there are 24 million houses (there aren\’t, there\’s 24 million households but this gives us an order of magnitude) at £15 k a piece. That\’s umm, £360 billion.
Stern told us that the costs of dealing with the problem would be 1% or so of GDP. About £14 billion a year. Well, there we go, there\’s 25 years\’ worth of that just in insulating houses. We\’ve not yet touched farming, transport, generation or industry.
It\’s going to cost us a lot more than 1%, isn\’t it? Which means that mitigation might not be the best solution, for if it\’s more expensive then Stern\’s cost benefit analysis no longer adds up. It might well be that adaptation is the best answer.