The rough cost of plugging the gap [to make Britain’s energy generation 100 per cent renewable], if we did it with wind and sun onshore, is about £50 billion. You could borrow £40 billion and just stake £10 billion of public money to get that built.”
In the context of energy generation systems £50 billion is a pittance – two nuclear reactors or so at current rates. It’s also the sort of amount that the private sector would happily put up in a trice – if the number were correct and if there were a profit in doing so. So, why aren’t they? Possibly because the number isn’t right, or perhaps the profit isn’t there. Which is, largely enough, two versions of the same statement.
I also tend to think that it’s not actually possible to power the country with just solar and wind. Dispatchable power and all that. So perhaps it’s not just those numbers that are wrong then.