Price Is No Longer an Obstacle to Clean Power

abu afak

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Price Is No Longer an Obstacle to Clean Power
Peter R. Orszag
Bloomberg
September 22, 2020

"...Geoffrey Heal of Columbia University showing that it would cost only $6 billion a year for the U.S. to move to carbon-free electricity generation by 2050.​
Even if the precise numbers are off, Heal is right to emphasize that the transition to cleaner energy is much less costly today than it used to be. Three forces are changing the math.​
First, renewable power costs are dropping so fast, both utility-scale solar and onshore wind power have become cheaper than natural gas or coal power, as Lazard’s levelized-cost-of-energy estimates from 2019 show. As I wrote when these numbers came out, multiple forces have driven costs down, including ongoing improvements in technology and lower capital costs. (In November, Lazard will have updated estimates of the cost of various energy technologies.)​
Second, the cost of storing renewable energy is also falling. The challenge with wind and solar energy is that they are intermittent, so they require either supplemental conventional power, such as combined-cycle natural gas, or enough storage to smooth the variation relative to demand. As storage becomes more affordable than supplementation, the share of energy production based solely on renewable power can expand.​
.....​
Third, and crucially, many power plants are nearing the end of their useful lives and need to be replaced one way or another. That means the cost of building new facilities is a given, and shouldn’t be counted as a cost of the transition to lower-carbon electricity. ...
[......]​

`​
 

Mac1958

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Price Is No Longer an Obstacle to Clean Power
Peter R. Orszag
Bloomberg
September 22, 2020

"...Geoffrey Heal of Columbia University showing that it would cost only $6 billion a year for the U.S. to move to carbon-free electricity generation by 2050.​
Even if the precise numbers are off, Heal is right to emphasize that the transition to cleaner energy is much less costly today than it used to be. Three forces are changing the math.​
First, renewable power costs are dropping so fast, both utility-scale solar and onshore wind power have become cheaper than natural gas or coal power, as Lazard’s levelized-cost-of-energy estimates from 2019 show. As I wrote when these numbers came out, multiple forces have driven costs down, including ongoing improvements in technology and lower capital costs. (In November, Lazard will have updated estimates of the cost of various energy technologies.)​
Second, the cost of storing renewable energy is also falling. The challenge with wind and solar energy is that they are intermittent, so they require either supplemental conventional power, such as combined-cycle natural gas, or enough storage to smooth the variation relative to demand. As storage becomes more affordable than supplementation, the share of energy production based solely on renewable power can expand.​
.....​
Third, and crucially, many power plants are nearing the end of their useful lives and need to be replaced one way or another. That means the cost of building new facilities is a given, and shouldn’t be counted as a cost of the transition to lower-carbon electricity. ...
[......]​

`​
Cost has always been the key, and the only excuse the nutters have. It was inevitable that costs would come down.

Exciting news. Hopefully this country really HAS hit rock bottom and we're about to reverse course.
 
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Billy_Bob

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When big green is held responsible for the base load generation costs and they are applied to this scam, the costs are 5x what coal and gas can do... Our current technology makes coal and NG as efficient as all big green boondoggles.

THis big green lie will never die... It just gets rinsed out and regurgitated...
 

MarathonMike

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Price Is No Longer an Obstacle to Clean Power
Peter R. Orszag
Bloomberg
September 22, 2020

"...Geoffrey Heal of Columbia University showing that it would cost only $6 billion a year for the U.S. to move to carbon-free electricity generation by 2050.​
Even if the precise numbers are off, Heal is right to emphasize that the transition to cleaner energy is much less costly today than it used to be. Three forces are changing the math.​
First, renewable power costs are dropping so fast, both utility-scale solar and onshore wind power have become cheaper than natural gas or coal power, as Lazard’s levelized-cost-of-energy estimates from 2019 show. As I wrote when these numbers came out, multiple forces have driven costs down, including ongoing improvements in technology and lower capital costs. (In November, Lazard will have updated estimates of the cost of various energy technologies.)​
Second, the cost of storing renewable energy is also falling. The challenge with wind and solar energy is that they are intermittent, so they require either supplemental conventional power, such as combined-cycle natural gas, or enough storage to smooth the variation relative to demand. As storage becomes more affordable than supplementation, the share of energy production based solely on renewable power can expand.​
.....​
Third, and crucially, many power plants are nearing the end of their useful lives and need to be replaced one way or another. That means the cost of building new facilities is a given, and shouldn’t be counted as a cost of the transition to lower-carbon electricity. ...
[......]​

`​
You would have to be high on unicorn farts to believe this Columbia Professor's cost estimates to achieve a changeover to 'clean power' by 2050.
 

Grumblenuts

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Talk is free, stinky. Electric power is per KWH and I'll disbelieve your "3 x" BS until you can be bothered to supply some confirming data.
 

justinacolmena

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I have a gasoline powered generator, and I burn about one gallon of gas per month in it, because I don't tend to run it unless I'm actually using appliances that need electricity.

I'm going for a propane cookstove, a space heater that burns diesel grade fuel oil, a kerosene lantern for light, a rain barrel for water, a plastic buckets with a mop wringer for clothes, and an outhouse out back.

I don't want to be charged per kilowatt-hour or be permanently hooked up to such services, or deal with water pipes frozen solid at –40°.
 

C_Clayton_Jones

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“Price Is No Longer an Obstacle to Clean Power”

True.

But conservatives will continue to propagate the lie that it is too costly, as well as the lie that it will ‘cost jobs.’
 

martybegan

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Price Is No Longer an Obstacle to Clean Power
Peter R. Orszag
Bloomberg
September 22, 2020

"...Geoffrey Heal of Columbia University showing that it would cost only $6 billion a year for the U.S. to move to carbon-free electricity generation by 2050.​
Even if the precise numbers are off, Heal is right to emphasize that the transition to cleaner energy is much less costly today than it used to be. Three forces are changing the math.​
First, renewable power costs are dropping so fast, both utility-scale solar and onshore wind power have become cheaper than natural gas or coal power, as Lazard’s levelized-cost-of-energy estimates from 2019 show. As I wrote when these numbers came out, multiple forces have driven costs down, including ongoing improvements in technology and lower capital costs. (In November, Lazard will have updated estimates of the cost of various energy technologies.)​
Second, the cost of storing renewable energy is also falling. The challenge with wind and solar energy is that they are intermittent, so they require either supplemental conventional power, such as combined-cycle natural gas, or enough storage to smooth the variation relative to demand. As storage becomes more affordable than supplementation, the share of energy production based solely on renewable power can expand.​
.....​
Third, and crucially, many power plants are nearing the end of their useful lives and need to be replaced one way or another. That means the cost of building new facilities is a given, and shouldn’t be counted as a cost of the transition to lower-carbon electricity. ...
[......]​

`​
Cost has always been the key, and the only excuse the nutters have. It was inevitable that costs would come down.

Exciting news. Hopefully this country really HAS hit rock bottom and we're about to reverse course.
If that's the case it will take over naturally via economic means, no need to ban things like ICE vehicles, gas stoves, etc.

And the 3rd point is the type of accounting shenanigans that got ENRON in trouble.
 

elektra

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Talk is free, stinky. Electric power is per KWH and I'll disbelieve your "3 x" BS until you can be bothered to supply some confirming data.
blah blah blah!

In April 2020, the average price of electricity in California — across all sectors — jumped by 7.7% over April 2019 numbers. Residential electricity costs jumped even more. In April 2020, residential consumers in California were paying 20.47 cents per kilowatt-hour, an increase of 13.4% over April 2019 prices.Jul 8, 2020
 

elektra

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Talk is free, stinky. Electric power is per KWH and I'll disbelieve your "3 x" BS until you can be bothered to supply some confirming data.
 

elektra

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Talk is free, stinky. Electric power is per KWH and I'll disbelieve your "3 x" BS until you can be bothered to supply some
ImageInstitute for Energy Research › ...
Biden's “Clean Energy Standard” Will Increase Electricity Prices as ...

Aug 28, 2020 · Biden's “Clean Energy Standard” Will Increase Electricity Prices as Demonstrated by California's Quest ...

ImageOrange County Register
With California's high power rates, will all-electric homes be ...
californIa rising costs of electricity from www.ocregister.com

Oct 8, 2019 · With California's high power rates, will all-electric homes be affordable? ... all- electric Bay Area ...
 

Dick Foster

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Price Is No Longer an Obstacle to Clean Power
Peter R. Orszag
Bloomberg
September 22, 2020

"...Geoffrey Heal of Columbia University showing that it would cost only $6 billion a year for the U.S. to move to carbon-free electricity generation by 2050.​
Even if the precise numbers are off, Heal is right to emphasize that the transition to cleaner energy is much less costly today than it used to be. Three forces are changing the math.​
First, renewable power costs are dropping so fast, both utility-scale solar and onshore wind power have become cheaper than natural gas or coal power, as Lazard’s levelized-cost-of-energy estimates from 2019 show. As I wrote when these numbers came out, multiple forces have driven costs down, including ongoing improvements in technology and lower capital costs. (In November, Lazard will have updated estimates of the cost of various energy technologies.)​
Second, the cost of storing renewable energy is also falling. The challenge with wind and solar energy is that they are intermittent, so they require either supplemental conventional power, such as combined-cycle natural gas, or enough storage to smooth the variation relative to demand. As storage becomes more affordable than supplementation, the share of energy production based solely on renewable power can expand.​
.....​
Third, and crucially, many power plants are nearing the end of their useful lives and need to be replaced one way or another. That means the cost of building new facilities is a given, and shouldn’t be counted as a cost of the transition to lower-carbon electricity. ...
[......]​

`​
If people are really all that concerned they'd know about thorium fueled LFTRS. Yet not a peep. I can only conclude that the so called energy crisis and climate crisis is just so much bullshit.
 

elektra

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The Ceres Clean Trillion highlights the need for an additional $1 trillion per year in clean energy investment to limit global temperature rise to below 1.5 degrees Celsius and avoid the worst impacts of climate change.

Clean Trillion | Ceres
 

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