As Mexico is poised to plunge into its worst recession in recent-memory the leftist president is making cuts and pulling the plug on subsidy dependent intermittent power from wind and solar that has been driving up the cost of electricity for its financially challenged population.
Recognizing that industrial wind and solar electricity bring little to no value to electrical grids, Mexico is moving to avoid the higher electrical prices experienced by Germany, Denmark, Great Britain, South Australia, California, Wisconsin, Minnesota, and other governments that have heavily subsidized their supply of intermittent electricity.
The only things ‘inevitable’ about the ‘transition’ to wind and solar are rocketing electricity prices and unstable power grids. As to the latter, the Mexican government has taken a stand that has sent renewable energy rent seekers into a tailspin.
One of the wealthiest men in the world, Warren Buffet, said it best when asked why his company invested in wind farms. “We get a tax credit if we build a lot of wind farms. That is the only reasons to build them. They don’t make sense without the tax credit.”
More and more people are waking up to the problems with renwables. The biggest being they are intermittent power sources in a world that requires 99.99% availibility of electricity.
If you want to lower CO2 emissions then nuclear power is the best way to go to meet that goal.