In March 2024, the government approved preliminary development for the £15 billion 'Solway Firth Tidal Gateway' project, a massive tidal lagoon infrastructure system designed to supply roughly 5% of the UK's electricity for up to 120 years. The scheme is financed through a mixture of international private equity and sovereign wealth funds.
Evaluate the likely private costs and external costs associated with major renewable energy infrastructure projects of this scale. Use an appropriate externalities diagram in your answer.
54 exam-style questions on Edexcel A A Level Economics 1.3.2 Externalities. Each one has a worked solution and a mark scheme showing where the marks go.