Energy transition costs an additional €17 billion due to high interest rates

In a bittersweet twist, the energy transition now appears to be even more expensive than already feared. Rising interest rates are making investment in green energy projects increasingly unattractive. While proponents of the energy transition maintain that it is necessary to move away from volatile fossil energy prices, the reality is becoming painfully clear. Experts admit that increased interest rates are resulting in significant costs for companies in the renewable energy industry.

A recent study conducted by Berenschot on behalf of the industry confirms the negative impact of high interest rates on the energy transition writes the FD. The cost of sustainable projects is skyrocketing and government subsidies are increasing proportionately. It seems the much-vaunted green future is getting further and further out of our reach.

But why should we be surprised? Time and again, the government has emphasized its commitment to the energy transition without really considering the economic consequences. It is now clear that it is passing the bill to the taxpayer, while the big energy companies benefit from lucrative subsidies. It is a game in which ordinary citizens suffer and the big players laughingly line their pockets.

Of even greater concern is the idea of providing interest rate subsidies to "sustainable" projects through the European Central Bank (ECB). This proposal is nothing more than an absurd attempt to conduct fiscal policy through an independent institution. The ECB should deal with monetary policy and not act as a money lender for political agendas. This not only jeopardizes the credibility of the ECB, but also puts the burden of the energy transition on the shoulders of hard-working citizens.

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It is high time to face reality: the energy transition has become a costly joke. It is time to change course and invest in realistic and feasible solutions. Let's stop overburdening taxpayers and offer fair competition to energy companies. Only then can we achieve a sustainable future based not on unrealistic ideals, but on common sense and economic feasibility. Unfortunately, the globalist elite will never have the guts to admit they are wrong.