In pursuit of the green transition : electricity at any cost?

Title page 1

Contents 1

Abstract 3

Introduction 4

The Empirical Picture 6

The Price of Electricity 9

System Functions 13

The System-Level Economy 16

The Power-Plant Level Economy for Wind Power 19

Social Benefits and Costs of Externalities 20

Environmental and System Impacts of Wind Power 22

Conclusions 22

References 23

Tables 7

Table 1. The Electricity Generation Mix in EU-27, the UK and the US, 2008 and 2023 7

Table 2. Rough Electricity Mix Share in EU-27 in 2022 and Potential Mixes Totaling 7,000 TWh in 2050 8

Figures 6

Fig. 1. Net Electricity Production in the EU, 2001-2024 (TWh) 6

Fig. 2. The share of wind + solar electricity and household electricity price (EUR/kWh) in 2023 11