Thread by @ShellenbergerMD

Renewables threaten German economy & energy supply, McKinsey warns in new report

"Risk of not enough supply in the entire European network" w/in 5 yrs.

Australia, Calif., UK face similar price shocks & shortages

My latest @Forbes - please share!

forbes.com/sites/michaels…

@Forbes One of Germany's largest newspapers summarized findings of the McKinsey report in a single word: "disastrous."

"Problems are manifesting in all three dimensions of the energy industry triangle: climate protection, the security of supply and economic efficiency," writes @McKinsey

@Forbes @McKinsey "Only short-term imports from neighboring countries were able to stabilize the grid," the consultancy notes.

Cost of "balancing energy" skyrocketed from €64 in 2017 to €37,856 in 2019

"It can be assumed that security of supply will continue to worsen in the future."

@Forbes @McKinsey Renewables are causing similarly high price shocks in other parts of the world including Texas, Australia, and California.

And Britain and Australia have faced similar energy supply problems in recent years as they have attempted to transition to intermittent renewables.

@Forbes @McKinsey Australia electricity regulators in August sued four wind farm operators for contributing to a huge blackout in 2016.

Bloomberg News, which strongly advocates renewable energy, last week called the supply problems a "warning short to the rest of the world."

@Forbes @McKinsey California's increasingly perilous electricity grid may put pressure on California Governor Gavin Newsom to keep the state's last nuclear plant running.

forbes.com/sites/michaels…

@Forbes @McKinsey Growing insecurity of German energy supply is worsened by neighbors Belgium & Netherlands which may shut down coal and nuclear plants.

"In the medium term, there is a risk that there will not be enough supply capacity in the entire European network."

To stabilize the electricity grid & avoid becoming too dependent on imported natural gas, Germany is expanding coal mining to Hambach forest.

Meanwhile, environmentalist have blocked transmission lines from the windy north to the industrial south.

Electricity prices will continue to rise through 2030, McKinsey predicts, despite promises in recent years by renewable energy advocates and German politicians that they would go down.

German electricity prices are today 45% above the European average.

Germany must build transmission 8x faster, build new back-up power plants, and installing instruments to control electricity demand, all of which would drive electricity prices even higher.

Alternatively, Germany could abandon its phase-out of nuclear power.

/end

@Forbes I will be on Fox News with @DanaPerino to discuss last night's CNN Townhall climate change meeting with Democratic presidential candidates at 2:10 pm eastern today — please tune-in!