Offshore Wind Projects Total 50 Percent Drop in Subsidy Costs - CSR Minute | 3BL Media

The rap on renewable energy from its critics has been the high cost. A new technology such as offshore wind power has required an enormous initial investment in R&D, new turbines, and new methods of electricity storage and distribution. It has also needed equally large subsidies from governments to encourage that investment. But the economic argument has turned a corner after this week’s auction by the UK government for contracts to provide electricity from offshore wind farms. The contracts showed sharp falls in subsidy costs of more than 50 percent, according to the Financial Times. Read more: http://bit.ly/2eTTgli