"Ever since Theresa May's government pushed through legislation committing the UK to be net zero by 2050, questions have been asked about the monumental cost likely to be involved, something few politicians are as eager to discuss as the targets themselves.
On Tuesday, though, the independent Office for Budget Responsibility had a go at answering that question. The answer is pretty sobering. The cost of the transition to government, as the OBR points out, depends on which of the costs involved the state choses to take on.
The OBR assumes the government will pick up about a quarter of the cost to the economy - and puts this cost at around £350bn over 30 years.
The implication is that the total cost of the transition will be £1.4trn - three-quarters of which will be borne by households and businesses rather than the government itself, for example, meeting the cost of replacing existing household gas boilers with costly zero carbon alternatives such as solar powered electric heating, ground source heat pumps or electric boilers."
https://www.msn.com/en-gb/money/other/the-obr-has-put-a-price-on-the-government-s-net-zero-ambitions-and-it-will-make-you-shiver/ar-AALQbzH?ocid=msedgntp
From my perspective, this is entirely the wrong approach. Looking at the problem in scientific and technological terms first, for half that price, I think it would be possible produce limitless clean energy from magma, convert it to hydrogen, and ship it all around the world to be burnt in traditional power stations, and distributed at petrol stations, to power hydrogen internal combustion engine, and hydrogen fuel cell driven vehicles!
Attacking this as the global problem that is it, and from the supply side, it is scientifically and technologically possible that we could meet and exceed global energy demand, from clean magma energy for half the price the UK alone plans to spend getting to net zero by 2050, and we wouldn't need to stomp on businesses, tax payers and consumers for decades to come to do it, because the cost of applying the technology would be shared many ways.
I cannot but point out the opportunity forgone by, quite understandably, addressing this problem within the bounds, and via the mechanisms available, but the cost is such, and the threat is such that it would be remiss not point out that the energy available is potentially so massive that we could transcend the limits to resources equation forcing us into a bottleneck, if we could look beyond our ideologically described selves but for a moment, and apply this one key technology, it would save us a fortune!