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Coal Is Being Squeezed Out of Power Industry by Cheap Renewables
https://www.bloomberg.com/news/articles/2018-06-19/coal-is-being-squeezed-out-of-power-industry-by-cheap-renewables
Coal will be increasingly squeezed out of the power generation market over the next three decades as the cost of renewables plunges and technology improves the flexibility of grids globally.
That’s the conclusion of a report by Bloomberg New Energy Finance, which estimated some $11.5 trillion of investment will go into electricity generation between now and 2050. Of that, 85 percent, or $9.8 billion, will go into wind, solar and other zero-emissions technologies such as hydro and nuclear, the London-based researcher said.
Better batteries, which allow grid managers to store power for times when it’s neither breezy nor sunny, will allow utilities to take advantage of plunging costs for solar panels and wind turbines. The ability of natural gas plants to work at a few minutes notice means the fuel will become the choice for most utilities wanting guaranteed generation capacity.
“Coal emerges as the biggest loser in the long run,” said Elena Giannakopoulou, head of energy economics at BNEF. “Beaten on cost by wind and PV for bulk electricity generation, and by batteries and gas for flexibility, the future electricity system will reorganize around cheap renewables.”
Coal will be increasingly squeezed out of the power generation market over the next three decades as the cost of renewables plunges and technology improves the flexibility of grids globally.
That’s the conclusion of a report by Bloomberg New Energy Finance, which estimated some $11.5 trillion of investment will go into electricity generation between now and 2050. Of that, 85 percent, or $9.8 billion, will go into wind, solar and other zero-emissions technologies such as hydro and nuclear, the London-based researcher said.
Better batteries, which allow grid managers to store power for times when it’s neither breezy nor sunny, will allow utilities to take advantage of plunging costs for solar panels and wind turbines. The ability of natural gas plants to work at a few minutes notice means the fuel will become the choice for most utilities wanting guaranteed generation capacity.
“Coal emerges as the biggest loser in the long run,” said Elena Giannakopoulou, head of energy economics at BNEF. “Beaten on cost by wind and PV for bulk electricity generation, and by batteries and gas for flexibility, the future electricity system will reorganize around cheap renewables.”
Good graphs at the link. Can't post them here.
5 replies
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Who in the world could have predicted such??? 
but he has bamboozled his supporters into investing their retirement savings into coal and other dying industries promising good things for them.
