Renewable energy is often pitched as cheaper to produce than fossil fuel energy. To quantify whether this is true, we have been studying the financial impact of expanding wind energy in the UK. Our results are surprising.
From 2010 to 2023, wind power delivered a benefit of £147.5 billion — £14.2 billion from lower electricity prices and £133.3 billion from reduced natural gas prices. If we offset the £43.2 billion in wind energy subsidies, UK consumers saved £104.3 billion compared with what their energy bills would have been without investment in wind generation.
