Analysis conducted by the EU has shown that the least expensive energy source is Wind Power.
The results of the study suggested Onshore wind costs £83 (€105) per MW/h whereas coal and gas costs between €164- €233 per MW/h.
Thus, showing that Europe’s reliance on fossil fuels is a massive burden on taxpayers and therefore further implying that investment in renewable resources will work out more cost effective as well as environmentally beneficial.
The findings highlight the need for Europe to reduce its dependence on non -renewable resources.
This report suggests to the conservative party that the construction of wind farms should not be restricted because in the long run this is more cost effective.
It has been learnt that the Tory party would like cap the level of subsidiaries provided to make wind farms because in the 2012 – renewable energy cost the public €38.3 billion in taxes as opposed to gas and coal which cost €22.3 billion.
The policy director for the European Photovoltaic Industry Association, Frauke Thies suggested that the cost of solar energy will continually fall swiftly; therefore it is advantageous to continue to invest in solar energy.
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