“Coal’s competitive advantage is fast evaporating. It cannot compete with renewables on cost, and storage and smart management of the grid have made the need for new baseload redundant. Coal is yesterday’s technology – the only thing new coal has going for it is inertia.”
– Kobad Bhavnagri, the lead author of Bloomberg New Energy Finance’s New Energy Outlook 2017 in Asia-Pacific report.
Posts Tagged "Financing & Economics"
“The whole utility paradigm has shifted. We really are doing our ratepayers a disservice by not considering all viable options.”
– Reiko Kerr, the Los Angeles Department of Water and Power’s senior assistant general manager of power systems, regarding a decision by the utility to put a hold on a $2.2 billion plan to rebuild several old natural gas power plants while it studies clean energy alternatives.
“The cost declines that we are seeing with these technologies are so steep that it becomes a matter of time as to when they start crossing over and becoming competitive in different ways. These things are getting cheaper faster than we thought even a year ago.”
– Seb Henbest, lead author of Bloomberg New Energy Finance’s latest annual New Energy Outlook report, discussing the predicted dominance of solar, renewables and lithium-ion batteries in the global energy mix by 2040.
“When [coal-fired power plants] are only running at 50 percent, the math just doesn’t pencil out. The business plans that justified them no longer exist, so they are just not profitable in current conditions.”
– Rob Godby, director of the Center for Energy Economics and Public Policy at the University of Wyoming, explaining how coal is being forced out of energy markets across the country, especially in the East, where cheaper energy like wind and hydro, always sell first on the open market.
“It’s the least cost renewable we can add to our system by far.”
– Stefan Bird, CEO of Pacific Power, whose parent company plans to build a major wind farm in Wyoming, one of several massive wind projects planned in the state to serve growing demand for clean energy on the West Coast.
“We have got a big appetite for wind or solar. If someone walks in with a solar project tomorrow and it takes a billion dollars or three billion dollars, we’re ready to do it. The more there is the better.”|
“We have got a big appetite for wind or solar. If someone walks in with a solar project tomorrow and it takes a billion dollars or three billion dollars, we’re ready to do it. The more there is the better.”
– Warren Buffett, speaking to investors at Berkshire Hathaway’s annual shareholders meeting.
“When are we ever going to be economically free, not serfs to the coal industry, unless there is economic diversity?”
– Filmmaker Mari-Lynn Evans, whose documentary “Blood on the Mountain” explores the troubled history of West Virginia’s coal industry, as quoted in a story about the state’s efforts to revitalize its economy independent of coal.