Big bill for a green revolution

Reducing greenhouse gases and tackling global warming is a massive problem for society at large, and there a will be a big societal price tag for fixing it. Achieving that in a severe recession must be one of the thorniest issues on the government agenda for the rest of this decade and beyond.

In my view, the deepening recession has illuminated an essential truth about renewable energy: Big wind farms, solar power and other alternative energies cannot be considered as principally commercial propositions. Even in normal economic times, they cannot be funded mainly or solely through private finance. But in a severe downturn, nigh is possible.

If rising public sector debt rules out increases in alternative energy investment, there must be an honest and grown up conversation with the electorate. Are citizens prepared to pay for cleaner energy though higher taxes or utility bills? I recently discussed this challenge in a byline article for PRWeek in the UK.