I understand there is installation, maintenance and servicing costs, but shouldn’t the free power from the sun, wind and tidal eventually pay this off and start providing free power?
In: Engineering
Renewables aren’t free; there’s still costs associated with harnessing the energy, even if the energy itself is freely available. Those costs are overwhelmingly related to interest rates on loans, ergo when interest rates go up, costs go up.
Put a different way; thinking renewables should be free is like thinking restaurants should be cheaper. You’re not just paying for the energy/food; you’re paying for the service of supplying the energy/food.
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