Books

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Brett Christophers | 2024

What if our understanding of capitalism and climate is back to front? What if the problem is not that transitioning to renewables is too expensive, but that saving the planet is not sufficiently profitable?

This is Brett Christophers’ claim. The global economy is moving too slowly toward sustainability because the return on green investment is too low.

Today’s consensus is that the key to curbing climate change is to produce green electricity and electrify everything possible. The main economic barrier in that project has seemingly been removed. But while prices of solar and wind power have tumbled, the golden era of renewables has yet to materialize.

The problem is that investment is driven by profit, not price, and operating solar and wind farms remains a marginal business, dependent everywhere on the state’s financial support.

We cannot expect markets and the private sector to solve the climate crisis while the profits that are their lifeblood remain unappetizing. But there is an alternative to providing surrogate green profits through subsidies: to take energy out of the private sector’s hands.

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Book Reviews

“The Price Is Wrong isn’t always the smoothest read. A former management consultant, Christophers packs the book with dense case studies and statistics. Some will question his enthusiasm for renewables, and wonder whether there aren’t other better ways to decarbonise. Nuclear power, for instance, is only mentioned in passing. But as an exposition of how electricity markets work — or don’t — it is masterly.”

Jonathan Ford, Financial Times

Author Book Discussions

About the Author

Brett Christophers is a professor in human geography at the Institute for Housing and Urban Research at Uppsala University.

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    • Books on Climate Change, Renewables, Critical Minerals and more

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