[ 24/10/20 Lifeboat foundation Facebook post about Solar Energy – Jeremy claimed all subsidy]
Define subsidy please.
Fossil is a mature technology, with a huge amount of sunk capital, and many systems that have fully paid back their capital cost and are essentially free. Like Saudi Oil, costing less than $1 per barrel FOB the local port.
Can’t compare those systems with the cost of new systems.
New oil is almost all more expensive than new solar.
And there is a huge fossil fuel infrastructure that needs to be replaced over time (quite short time – a couple of decades at most).
With exponential technology the tech side is relatively simple; but the money side is difficult because the very concept of measuring value in markets is now becoming dangerous, as markets require scarcity to deliver value and exponential technologies have the ability to eliminate scarcity, thus eliminating market value.
Market value is no longer a reasonable proxy for human value – and therein lies the real crisis of our age.
For most people, even conceiving of an idea like that is difficult if not impossible, as the idea of money as a value measure is so embedded that their minds reject any challenge to it.
A really difficult and complex problems space that must be addressed if our species is to survive!