Header Image

A Detailed Breakdown of Net Zero Costs

17 December 2024, categories: Articles, Costs, Net Zero

As we discussed in The Costs and Benefits of Net Zero, energy analyst David Turver covered the cost of Net Zero subsidies in his article Subsidies Galore!

He identified a total budget for previous and current subsidies of £328bn and listed the major costs using official data from the UK Government Subsidy Control Transparency Database.

SchemeCost (£bn)Totals
Electricity Generation Subsidies
Contracts for Difference (CfD)
AR415
AR55
AR6 item SC111174565
Feed in Tariffs (FiTs)
Item SC102203131
Subsidies to Mitigate Intermittent Renewables
Capacity Market
To mid December 202416.1
OBR forecast to 2029/30 for 2023/241935.1
Subsidies for Using Expensive Electricity
British Industry Supercharger Package for energy intensive industries (EIIs) (Item SC11062)5151
The Department for Energy Security and Net Zero0.40.4
Subsidies for Biofuels
Renewable Heat Incentive (RHI) schemes (Items SC10126, SC10120 and SC10119)45
Green gas2
Teesside CHP biomass plant1.148.1
Subsidies to Make Electricity Generation Less Efficient
Dispatchable Power Agreement Business Model (Item SC11175)30
Other CCUS related subsidies13
Various hydrogen subsidy schemes2.545.5
Subsidies to Transform Society
Transforming the automotive industry to deliver an electrified supply chain1.3
Industrial Energy Transformation Fund (IETF)0.3
Various ultra-low emissions bus projects0.62.2

We wonder how many people appreciate the extent of these costs which are already adding about £500 to each UK householder energy bill per year and likely to double by 2030 as this article in The Critic explains.

You can watch David being interviewed about this research on the Daily Sceptic:

The full video in which this excerpt is taken from is here: Episode 23 of the sceptic