Thanks in large part to the Inflation Reduction Act, the dirty fuel has even fewer things going for it now
If it wasn't clear before that the coal age is over, there is now just a single, solitary coal-fired power plant in the US that would be more economical to, researchers at Energy Innovation and UC Berkeley said there were 210 coal plants in the US, and except the Dry Fork facility in Wyoming, all of them would cost more to continue operating than if they were shut down today and replaced with new wind or solar power plants – and not by just a little bit either.
Keep in mind also that the study said"new" solar – so that includes the cost to turn decommissioned coal plants into renewable energy facilities and taking advantage of existing grid connections to speed projects along. If coal generation was replaced with local solar at those costs, communities could see up to $589 billion in clean energy investments on top of reduced costs for operation. That, in turn, can help eliminate energy stability concerns, the study said.
"Replacing coal generation with local renewable resources could save enough to finance installation of 137 GW of four-hour battery storage — 62 percent of the coal fleet's nameplate capacity," the researchers wrote in the study. "Coal is unequivocally more expensive than wind and solar resources, it's just no longer cost competitive with renewables. This report certainly challenges the narrative that coal is here to stay," Michelle Solomon, a policy analyst at Energy Innovation,
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
BP Believes Oil Demand Will Peak Near 2030 As Shift To Renewables Accelerates | OilPrice.comBP believes that Russia’s invasion of Ukraine has accelerated the transition to clean energy and means oil demand will peak near 2030
Read more »
Mum tells girl's boyfriend 'thanks for trying to save her' after she was stabbedHolly Newton's mum praised Holly's new boyfriend for attempting to rescue her ‘baby girl’.
Read more »
Lancashire mushroom firm supplying Tesco sees huge boom thanks to vegansSmithy Mushrooms has supplied Tesco for 30 years and is set to open a new production site in the autumn
Read more »
Hungary’s soaring inflation puts squeeze on Viktor Orbán\n\t\t\tKeep abreast of significant corporate, financial and political developments around the world.\n\t\t\tStay informed and spot emerging risks and opportunities with independent global reporting, expert\n\t\t\tcommentary and analysis you can trust.\n\t\t
Read more »
Federal Reserve set to signal plans to keep raising rates even as inflation eases\n\t\t\tKeep abreast of significant corporate, financial and political developments around the world.\n\t\t\tStay informed and spot emerging risks and opportunities with independent global reporting, expert\n\t\t\tcommentary and analysis you can trust.\n\t\t
Read more »
The rising price of cycling — why are bikes more expensive and how is the industry coping?The rising price of cycling — why are bikes more expensive and how is the industry coping? Inflation, Brexit + post-pandemic problems discussed on the roadcc podcast cycling
Read more »