By Mike Krieger / Bloomberg The ocean is the source of energy for millions of people in the United States and around the world.
But when it comes to the United Kingdom, it is not the most promising of potential sources.
A new report shows that British households are spending less than the European average for electricity and water, and in some places, they are paying more.
The study, commissioned by the British government, finds that British consumers are paying a paltry $0.25 per kilowatt hour for electricity.
Meanwhile, European consumers are spending around $0,07 per kilawatt hour, or $0-11.50 per kilovolt.
A British study released this week by the Energy Research and Development Institute (ERDI) says that while European utilities have come up with innovative and cost-effective solutions for renewable energy, they have failed to deliver on the promise of a cheap, reliable and renewable source of power.
The report, titled “What We Do with the Most: A Guide for British Consumers,” highlights how British consumers have become more reliant on fossil fuels and nuclear power than their European counterparts, with only 5 percent of the electricity used by the average British household coming from renewable sources.
British consumers spend more on electricity than their EU counterparts by a factor of three and have spent the most on water than any other country in the world, according to the report.
The problem, according the ERDI report, is that energy from the sea is much cheaper than the rest of the world’s supply, and that in some cases the cost of electricity from the ocean has increased, making the sea a much more attractive source of electricity.
The ERDI study also found that consumers in the UK have been reluctant to invest in solar and wind power, despite being the world leader in solar photovoltaic (PV) installations.
“Solar power has become an attractive alternative, but this investment has been largely focused on the residential sector,” said Erwin Langer, senior analyst at the ERDI.
“That’s really the wrong message to send to the British consumer,” Langer said.
“The government should be doing everything in its power to help the industry develop.”
In a separate report, the International Energy Agency says that in the last three years, solar PV installations have increased in the U.K. from 7 percent to 10 percent of new power capacity, and from 5 percent to 8 percent of total installed capacity.
“As a result, solar power has risen in the cost range of about $0 to $0 per watt,” said the report, which was published in the International Journal of Energy Economics.
Energy efficiency improvements and the introduction of new technologies such as batteries, wind turbines and solar panels have helped the U,K.
to reduce its dependence on imported oil and gas, the ERTI report found.
But the report warns that there is still a long way to go to achieve energy independence.
It notes that in addition to the price of power from the Atlantic and Mediterranean oceans, “many of the technologies used to reduce dependence on fossil fuel energy, such as solar, wind and batteries, have not been cost-competitive or affordable in a world where most households are not connected to the grid.”
In addition to improving the efficiency of the British grid, the report notes that a key challenge for the energy industry is the need for a global supply of electricity and the global supply chain for batteries.
The United States, China and India, for example, are investing billions of dollars in batteries and solar energy projects, but there are still a few countries that are missing the boat.
In the coming years, the United Nations will consider a resolution that aims to “increase the share of renewables in the mix of energy and help to increase the share that can be obtained from fossil fuels,” according to a statement from the UNAIDS.
According to the ERTI report, British households have already spent over $6 trillion on electricity since 2009.
“With so much money being spent on the ocean, the country is set to spend even more on the grid,” said Langer.
“It is a waste of billions of pounds and it is an embarrassment that the UK is failing to act on climate change,” said Mark Spencer, the chief executive of the Climate Change Campaign, a group that advocates for an energy transition.
“British consumers are the most vulnerable, because of the scale of the financial risk that comes with using the ocean.”