By Jo Nova

Now they tell us: …big spending on renewables needed, says report

Australia must find $1.5 trillion by the end of the decade to meet 2050 green targets in an effort experts say would need to mirror the reconstruction of Europe after World War II.

— By Nick Evans, The Australian

Until five minutes ago (or at least the last election), wind and solar power were the future — they were unstoppable because free energy paid for itself and was getting cheaper every year. (Cheaper than free!) Now, we’re out of the mists of the fairy garden, a few passengers on the top floor of the Carbon Bus can see the cliff coming. Suddenly we’ve gone from “it’ll save money” to needing $1,500 billion dollars or 1.5 million suitcases of a million dollars each, which is quite a lot in a land of 26 million people. It works out to be $57,000 each from every man, woman, pensioner and baby, and we need it in the next 7 years. So that’s a quarter of a million dollars from every family of four.

Nevermind about a house or a holiday, if we’re […]