GREEN NEW DEAL = BLIZZARD OF LIES

[Eyes Wide Open + 3,547]

Coal making a comeback as Europe dilutes dependence on Russian natural gas

Shutting down coal was premature, National Mining Association CEO argues

In an interview that aired on "Varney & Co." on Tuesday, National Mining Association CEO Rich Nolan argued that shutting down coal plants in the U.S. was premature.

He provided an analogy, arguing that "turning off well-functioning coal plants is like selling your house and moving into one that has not been built yet."

 

https://www.foxbusiness.com/energy/coal-making-a-comeback

[Jay McKinsey + 1,489]

18 minutes ago, Eyes Wide Open said:

Coal making a comeback as Europe dilutes dependence on Russian natural gas

Shutting down coal was premature, National Mining Association CEO argues

In an interview that aired on "Varney & Co." on Tuesday, National Mining Association CEO Rich Nolan argued that shutting down coal plants in the U.S. was premature.

He provided an analogy, arguing that "turning off well-functioning coal plants is like selling your house and moving into one that has not been built yet."

 

https://www.foxbusiness.com/energy/coal-making-a-comeback

So Much For Coal’s Rebound - Plant Closures Come Roaring Back. It’s Time To Unlock A Just Transition.

 

Energy Innovation: Policy and Technology

Contributor

Energy

We are a nonpartisan climate policy think tank helping policymakers make informed energy policy choices and accelerate clean energy by supporting the policies that most effectively reduce greenhouse gas emissions.

 

Coal roared back to life in 2021, showing it will be part of our energy mix for years to come. Or, at least that’s what industry proponents say.

Even though the Ukraine invasion has given coal executives a macabre opportunity to use war for self-promotion, 2021’s rebound was just a fleeting respite from coal’s continuing crash – plant closures are once again accelerating across the United States.

 

FirstEnergy Completes Demolition of R.E. Burger Power Station. Image via FirstEnergy Flickr account. ... [+]

 FIRSTENERGY

The fundamentals of coal’s decline are unequivocal: It simply costs more to dig up rocks, crush them into powder, and burn them for power than it costs to generate clean energy. This is especially true when environmental costs come into play – utilities can’t economically justify keeping plants open.

Of course, the climate imperative of closing coal plants is clear – the pollution they belch into our atmosphere causes unprecedented warming, makes extreme weather impacts more devasting to our communities, and harms our health.

But America’s transition from coal to clean is also a watershed moment in our history to generate good jobs for workers dependent upon the coal industry, stable tax income for the communities that hosted coal facilities, and clean economic growth for utilities. All three are possible with the right policies.

 

Coal closures accelerating toward a “record plunge”

U.S. coal power capacity peaked in 2011 at more than 317 gigawatts (GW), but steadily declined nearly 30% ever since, hitting a record high of 19.3 GW closed in 2015 and 13.1 GW closed in 2020. For context, coal’s share of U.S. electricity generation has plummeted from 50% a decade ago to less than 20% today.

 

Then came coal’s 2021 rebound. Emissions rose as the U.S. economy came back to life from the COVID-induced recession, and coal-fired electricity generation grew 17% according to Rhodium Group analysis, increasing for the first time since 2014. Because plants ran more often than they had over the past decade, utilities closed just 4.6 GW of capacity last year

But the fundamental economic pressures pushing coal out of the U.S. electricity mix remain unchanged – 80% of existing coal plants across the country cost more to continue running than replacing them with new local wind or solar generation. Plant closure announcements have resumed their march to zero, with the U.S. Energy Information Administration (EIA) reporting 12.6 GW of coal capacity will close in 2022, representing 85% of all electric generation capacity retirements this year.

Years in service for US coal-fired electric generating unit retirements and planned retirements, ... [+]

 U.S. ENERGY INFORMATION ADMINISTRATION

Coal’s outlook is even more grim over the next several years. S&P Global Market Intelligence reports utilities will close 51 GW of coal power between 2022 and 2027, followed by a “record plunge” in 2028 with more than 23 GW scheduled closures. Federal rules to keep coal ash and toxic metals out of drinking water will take effect that year – regardless of Supreme Court decisions on the U.S. Environmental Protection Agency’s authority to regulate greenhouse gas emissions – and many utilities are not investing in compliance upgrades for plants that keep losing money.

When utilities ignore coal’s economic and regulatory headwinds, they risk punitive consumer cost spikes. In West Virginia, where coal supplies 89% of statewide power but plants require hundreds of millions in mandatory upgrades, power prices have risen up to 122% in recent years.

Paul Chodak, executive vice president of generation at American Electric Power, told S&P the necessary investments to keep plants online and comply with regulations “was not justified” compared to forecast market prices and alternatives like renewable energy. Other utilities seem to agree with him.

Duke Energy, the country’s second-largest utility, recently announced it will close its 11 coal-fired power plants by 2035 – 13 years earlier than previously expected. Duke says it will replace that generation capacity by more than doubling its renewable energy portfolio to 24 GW by 2030.

Georgia Power, one of America’s most coal-reliant utilities, similarly announced that it would close all 14 of its coal plants no later than 2035 and double its renewable energy generation with up to 6 GW of solar and wind.

Smart policy can help coal-dependent utilities and communities transition

The data also shows we can close coal plants and maintain a reliable power supply, while keeping prices low and creating jobs. A meta-analysis of 11 studies from universities, think tanks, and other organizations agree that closing all coal by 2030 and replacing that generation with clean energy is feasible. Power prices would stay roughly the same or even decline, and this transition would add 500,000 to 1 million new net jobs per year, while generating up to $1.5 trillion in new net investment.

Andres Quiroz, an installer for Stellar Solar, secures a solar panel during installation at a home ... [+]

 © 2012 BLOOMBERG FINANCE LP

However, smart policies are required to help utilities navigate the coal-to-clean shift, keep customer costs low, and ensure a just transition with new economic opportunities for the communities and workers who depend upon the coal industry. Utilities, their regulators, and state policymakers have multiple options to address early coal retirements and facilitate the financial transition.

State legislatures can allow utilities to refinance outstanding debt on existing coal plants by authorizing ratepayer-backed bonds on uneconomic but as-yet undepreciated generation. “Securitization” as it is commonly known, was used extensively to retire stranded utility assets in the 1990s and 2000s, is already being used to help utilities retire coal plants in states like Michigan, and has been authorized in states like Colorado and New Mexico.

State regulators can also allow utilities to change depreciation schedules so that they can free up capital for clean energy investments without forcing customers to continue paying off the “mortgage” on uneconomic coal plants. Utilities can then refinance that mortgage to reduce consumer rates by replacing equity with corporate debt in a “debt for equity” swap.

If utilities are allowed to reinvest capital from uneconomic coal assets into solar or wind when the cost of building new renewables is cheaper than operating existing coal, they can swap “steel for fuel” on early coal plant retirements to add value for investors and customers and reduce operating costs. An emerging alternative policy option in this field is the “solar for coal swap” that could be particularly helpful for utilities to leverage private capital for solar investments that pay a better return on investment over time.

This approach can help facilitate a just transition for coal-dependent workers and communities if done right. In Colorado, for instance, state regulators have approved utility plans to close coal plants and build replacement generation within the same local area, ensuring clean energy jobs and tax revenue help replace those lost to coal closures.

A instillation of four wind generators operate alongside Interstate 25 ten miles south of Pueblo, ... [+]

 CORBIS VIA GETTY IMAGES

Economic solutions must go beyond utilities retiring coal plants to ensure a just transition for the communities that host coal plants and mines, and the workers who depend on them. Policy roadmaps to create a fair economic transition include the Just Transition Fund’s Blueprint for Transition, the National Economic Transition Platform created by a coalition of organizations, and the Reimagine Appalachia coalition’s blueprint. Congress is also currently debating federal energy provisions including economic transition measures, which could build on President Obama’s Power Initiative for coal communities.

America’s coal closures aren’t ending – it’s time to think about what’s next

When even Peabody Coal, the world’s largest private coal company, announces it will invest in 5 GW of new solar and storage capacity, it’s time to admit America’s coal-to-clean transition is accelerating, whether fossil fuel industry proponents admit it or not.

Global events and the oil and gas price volatility they create may slow that trajectory a bit, but only temporarily. Coal’s long-term downward spiral will continue as the world transitions to cleaner energy and the energy security, stability, and sustainability it provides.

But it’s not enough to push coal plant closures. Utility regulators, state officials, and the utilities themselves must be actively engaged now in implementing the policies that can facilitate a shift away from coal that keeps utilities in business, avoids customer rate spikes, and ensures a just transition for the workers and communities who have economically depended on coal.

 

Energy Innovation: Policy and Technology

 

We are a nonpartisan climate policy think tank delivering high-quality research and original analysis to help policymakers make informed energy

... Read More

Silvio Marcacci

 

Silvio is communications director at Energy Innovation, where he leads all media relations and communications efforts.

•  

Edited March 16, 2022 by Jay McKinsey

[Ecocharger + 1,383]

On 3/13/2022 at 10:41 PM, Jay McKinsey said:

Ok dippy, I guess we have to go through the numbers again for your mathematically challenged midget mind.:

China has a vehicle fleet of 300 million vehicles. https://en.wikipedia.org/wiki/List_of_countries_by_vehicles_per_capita

Thus 1% of the total vehicle fleet is 3 million vehicles.

Last year NEV sales were 3.3 million or 1.1% of the total vehicle fleet. https://www.electrive.com/2022/01/11/china-counts-more-than-3-million-nev-sales-in-2021/#:~:text=In China%2C around 3.3 million,month with 505%2C000 NEV cars.

In January of this year NEV sales more than doubled YoY for a Total: 372,615 (up 115%)

In February of this year NEV sales more than doubled to 272,000 units in February, up 180.5 percent year-on-year

As both months were well over double YoY results, extrapolation says that this year will be well over double that of last year. Thus well over 2% of total vehicles in China.

Will I have to do this math for you every month?

You are really number challenged, old boy. No one is talking about "fleet", we are talking about percentage of vehicle sales, including new, used, trucks, cars, SUVs....that takes your sales figures for EVs below 1% of total vehicle sales. As usual you forget the used sales market, where EVs are totally miniscule and dominated by ICE.

And one EV sale which has not been made is to you, Jay, you are one tough nut to crack for the EV sales force. You talk a good game, but your wallet remains shut like Fort Knox when it comes to buying your favorite EVs.

Edited March 16, 2022 by Ecocharger

[Ecocharger + 1,383]

It is now official, the Green Dream is over, it has become the Green Nightmare, and has been put to bed by Biden & Co.

It will not return to life.

https://oilprice.com/Energy/Crude-Oil/High-Oil-Prices-Are-Crushing-Bidens-Energy-Policy-Plan.html

"Runaway inflation, soaring gasoline prices, and the war in Ukraine have made energy security and affordability an important topic for the Biden Administration.

Energy Secretary Granholm has finally called upon U.S. oil and gas producers to increase production."

Edited March 16, 2022 by Ecocharger

[Ecocharger + 1,383]

1 hour ago, Jay McKinsey said:

So Much For Coal’s Rebound - Plant Closures Come Roaring Back. It’s Time To Unlock A Just Transition.

 

Energy Innovation: Policy and Technology

Contributor

Energy

We are a nonpartisan climate policy think tank helping policymakers make informed energy policy choices and accelerate clean energy by supporting the policies that most effectively reduce greenhouse gas emissions.

 

Coal roared back to life in 2021, showing it will be part of our energy mix for years to come. Or, at least that’s what industry proponents say.

Even though the Ukraine invasion has given coal executives a macabre opportunity to use war for self-promotion, 2021’s rebound was just a fleeting respite from coal’s continuing crash – plant closures are once again accelerating across the United States.

 

FirstEnergy Completes Demolition of R.E. Burger Power Station. Image via FirstEnergy Flickr account. ... [+]

 FIRSTENERGY

The fundamentals of coal’s decline are unequivocal: It simply costs more to dig up rocks, crush them into powder, and burn them for power than it costs to generate clean energy. This is especially true when environmental costs come into play – utilities can’t economically justify keeping plants open.

Of course, the climate imperative of closing coal plants is clear – the pollution they belch into our atmosphere causes unprecedented warming, makes extreme weather impacts more devasting to our communities, and harms our health.

But America’s transition from coal to clean is also a watershed moment in our history to generate good jobs for workers dependent upon the coal industry, stable tax income for the communities that hosted coal facilities, and clean economic growth for utilities. All three are possible with the right policies.

 

Coal closures accelerating toward a “record plunge”

U.S. coal power capacity peaked in 2011 at more than 317 gigawatts (GW), but steadily declined nearly 30% ever since, hitting a record high of 19.3 GW closed in 2015 and 13.1 GW closed in 2020. For context, coal’s share of U.S. electricity generation has plummeted from 50% a decade ago to less than 20% today.

 

Then came coal’s 2021 rebound. Emissions rose as the U.S. economy came back to life from the COVID-induced recession, and coal-fired electricity generation grew 17% according to Rhodium Group analysis, increasing for the first time since 2014. Because plants ran more often than they had over the past decade, utilities closed just 4.6 GW of capacity last year

But the fundamental economic pressures pushing coal out of the U.S. electricity mix remain unchanged – 80% of existing coal plants across the country cost more to continue running than replacing them with new local wind or solar generation. Plant closure announcements have resumed their march to zero, with the U.S. Energy Information Administration (EIA) reporting 12.6 GW of coal capacity will close in 2022, representing 85% of all electric generation capacity retirements this year.

Years in service for US coal-fired electric generating unit retirements and planned retirements, ... [+]

 U.S. ENERGY INFORMATION ADMINISTRATION

Coal’s outlook is even more grim over the next several years. S&P Global Market Intelligence reports utilities will close 51 GW of coal power between 2022 and 2027, followed by a “record plunge” in 2028 with more than 23 GW scheduled closures. Federal rules to keep coal ash and toxic metals out of drinking water will take effect that year – regardless of Supreme Court decisions on the U.S. Environmental Protection Agency’s authority to regulate greenhouse gas emissions – and many utilities are not investing in compliance upgrades for plants that keep losing money.

When utilities ignore coal’s economic and regulatory headwinds, they risk punitive consumer cost spikes. In West Virginia, where coal supplies 89% of statewide power but plants require hundreds of millions in mandatory upgrades, power prices have risen up to 122% in recent years.

Paul Chodak, executive vice president of generation at American Electric Power, told S&P the necessary investments to keep plants online and comply with regulations “was not justified” compared to forecast market prices and alternatives like renewable energy. Other utilities seem to agree with him.

Duke Energy, the country’s second-largest utility, recently announced it will close its 11 coal-fired power plants by 2035 – 13 years earlier than previously expected. Duke says it will replace that generation capacity by more than doubling its renewable energy portfolio to 24 GW by 2030.

Georgia Power, one of America’s most coal-reliant utilities, similarly announced that it would close all 14 of its coal plants no later than 2035 and double its renewable energy generation with up to 6 GW of solar and wind.

Smart policy can help coal-dependent utilities and communities transition

The data also shows we can close coal plants and maintain a reliable power supply, while keeping prices low and creating jobs. A meta-analysis of 11 studies from universities, think tanks, and other organizations agree that closing all coal by 2030 and replacing that generation with clean energy is feasible. Power prices would stay roughly the same or even decline, and this transition would add 500,000 to 1 million new net jobs per year, while generating up to $1.5 trillion in new net investment.

Andres Quiroz, an installer for Stellar Solar, secures a solar panel during installation at a home ... [+]

 © 2012 BLOOMBERG FINANCE LP

However, smart policies are required to help utilities navigate the coal-to-clean shift, keep customer costs low, and ensure a just transition with new economic opportunities for the communities and workers who depend upon the coal industry. Utilities, their regulators, and state policymakers have multiple options to address early coal retirements and facilitate the financial transition.

State legislatures can allow utilities to refinance outstanding debt on existing coal plants by authorizing ratepayer-backed bonds on uneconomic but as-yet undepreciated generation. “Securitization” as it is commonly known, was used extensively to retire stranded utility assets in the 1990s and 2000s, is already being used to help utilities retire coal plants in states like Michigan, and has been authorized in states like Colorado and New Mexico.

State regulators can also allow utilities to change depreciation schedules so that they can free up capital for clean energy investments without forcing customers to continue paying off the “mortgage” on uneconomic coal plants. Utilities can then refinance that mortgage to reduce consumer rates by replacing equity with corporate debt in a “debt for equity” swap.

If utilities are allowed to reinvest capital from uneconomic coal assets into solar or wind when the cost of building new renewables is cheaper than operating existing coal, they can swap “steel for fuel” on early coal plant retirements to add value for investors and customers and reduce operating costs. An emerging alternative policy option in this field is the “solar for coal swap” that could be particularly helpful for utilities to leverage private capital for solar investments that pay a better return on investment over time.

This approach can help facilitate a just transition for coal-dependent workers and communities if done right. In Colorado, for instance, state regulators have approved utility plans to close coal plants and build replacement generation within the same local area, ensuring clean energy jobs and tax revenue help replace those lost to coal closures.

A instillation of four wind generators operate alongside Interstate 25 ten miles south of Pueblo, ... [+]

 CORBIS VIA GETTY IMAGES

Economic solutions must go beyond utilities retiring coal plants to ensure a just transition for the communities that host coal plants and mines, and the workers who depend on them. Policy roadmaps to create a fair economic transition include the Just Transition Fund’s Blueprint for Transition, the National Economic Transition Platform created by a coalition of organizations, and the Reimagine Appalachia coalition’s blueprint. Congress is also currently debating federal energy provisions including economic transition measures, which could build on President Obama’s Power Initiative for coal communities.

America’s coal closures aren’t ending – it’s time to think about what’s next

When even Peabody Coal, the world’s largest private coal company, announces it will invest in 5 GW of new solar and storage capacity, it’s time to admit America’s coal-to-clean transition is accelerating, whether fossil fuel industry proponents admit it or not.

Global events and the oil and gas price volatility they create may slow that trajectory a bit, but only temporarily. Coal’s long-term downward spiral will continue as the world transitions to cleaner energy and the energy security, stability, and sustainability it provides.

But it’s not enough to push coal plant closures. Utility regulators, state officials, and the utilities themselves must be actively engaged now in implementing the policies that can facilitate a shift away from coal that keeps utilities in business, avoids customer rate spikes, and ensures a just transition for the workers and communities who have economically depended on coal.

 

Energy Innovation: Policy and Technology

 

We are a nonpartisan climate policy think tank delivering high-quality research and original analysis to help policymakers make informed energy

... Read More

Silvio Marcacci

 

Silvio is communications director at Energy Innovation, where he leads all media relations and communications efforts.

•  

Empty propaganda, I guess that's all you can give us. Coal is reaching all-time high production levels world-wide, and will continue to grow in China at enormous rates.

[Jay McKinsey + 1,489]

34 minutes ago, Ecocharger said:

You are really number challenged, old boy. No one is talking about "fleet", we are talking about percentage of vehicle sales, including new, used, trucks, cars, SUVs....that takes your sales figures for EVs below 1% of total vehicle sales. As usual you forget the used sales market, where EVs are totally miniscule and dominated by ICE.

And one EV sale which has not been made is to you, Jay, you are one tough nut to crack for the EV sales force. You talk a good game, but your wallet remains shut like Fort Knox when it comes to buying your favorite EVs.

All used cars sold are a subset of how many vehicles are in the fleet midget mind. 

Edited March 16, 2022 by Jay McKinsey

[Jay McKinsey + 1,489]

US coal usage for electricity in Q4 2021 down 10% from Q4 2020:

Wind was up 20%

Solar was up 25%

Edited March 16, 2022 by Jay McKinsey

[Rob Plant + 2,652]

Tesla price: Elon Musk puts up rate for second time in week as cost pressures build after Russian invasion of Ukraine

https://news.sky.com/story/tesla-puts-up-prices-for-second-time-in-a-week-as-cost-pressures-build-12566653

[Boat + 1,315]

15 hours ago, Eric Gagen said:

I haven't seen that anywhere, and it would seem to make sense,  but I have also seen evidence (anecdotal but seemingly widespread) that a lot of plants are generally seeing low utilization because

• local political leaders 'make money' when the construct new plants (or at least they did, until Beijing changed how things got accounted)
• The construction of the grid has lagged demand, ending up in a situation where a lot of plants get low utilization because they are basically there 'just in case'

I would expect your 95% good plants,30% bad ones is the objective, until all the inefficient ones get weeded out, but I question how often that has been achieved in practice.

It’s chips guys. Remember? 

[Boat + 1,315]

10 hours ago, Jay McKinsey said:

US coal usage for electricity in Q4 2021 down 10% from Q4 2020:

Wind was up 20%

Solar was up 25%

Great trends. In two years will be the fun stats. A lot of new car and battery plants will be producing along with two more years of renewable buildout. We’ll know more about green hydrogen progress. 
 

[Boat + 1,315]

12 hours ago, Jay McKinsey said:

So Much For Coal’s Rebound - Plant Closures Come Roaring Back. It’s Time To Unlock A Just Transition.

 

Energy Innovation: Policy and Technology

Contributor

Energy

We are a nonpartisan climate policy think tank helping policymakers make informed energy policy choices and accelerate clean energy by supporting the policies that most effectively reduce greenhouse gas emissions.

 

Coal roared back to life in 2021, showing it will be part of our energy mix for years to come. Or, at least that’s what industry proponents say.

Even though the Ukraine invasion has given coal executives a macabre opportunity to use war for self-promotion, 2021’s rebound was just a fleeting respite from coal’s continuing crash – plant closures are once again accelerating across the United States.

 

FirstEnergy Completes Demolition of R.E. Burger Power Station. Image via FirstEnergy Flickr account. ... [+]

 FIRSTENERGY

The fundamentals of coal’s decline are unequivocal: It simply costs more to dig up rocks, crush them into powder, and burn them for power than it costs to generate clean energy. This is especially true when environmental costs come into play – utilities can’t economically justify keeping plants open.

Of course, the climate imperative of closing coal plants is clear – the pollution they belch into our atmosphere causes unprecedented warming, makes extreme weather impacts more devasting to our communities, and harms our health.

But America’s transition from coal to clean is also a watershed moment in our history to generate good jobs for workers dependent upon the coal industry, stable tax income for the communities that hosted coal facilities, and clean economic growth for utilities. All three are possible with the right policies.

 

Coal closures accelerating toward a “record plunge”

U.S. coal power capacity peaked in 2011 at more than 317 gigawatts (GW), but steadily declined nearly 30% ever since, hitting a record high of 19.3 GW closed in 2015 and 13.1 GW closed in 2020. For context, coal’s share of U.S. electricity generation has plummeted from 50% a decade ago to less than 20% today.

 

Then came coal’s 2021 rebound. Emissions rose as the U.S. economy came back to life from the COVID-induced recession, and coal-fired electricity generation grew 17% according to Rhodium Group analysis, increasing for the first time since 2014. Because plants ran more often than they had over the past decade, utilities closed just 4.6 GW of capacity last year

But the fundamental economic pressures pushing coal out of the U.S. electricity mix remain unchanged – 80% of existing coal plants across the country cost more to continue running than replacing them with new local wind or solar generation. Plant closure announcements have resumed their march to zero, with the U.S. Energy Information Administration (EIA) reporting 12.6 GW of coal capacity will close in 2022, representing 85% of all electric generation capacity retirements this year.

Years in service for US coal-fired electric generating unit retirements and planned retirements, ... [+]

 U.S. ENERGY INFORMATION ADMINISTRATION

Coal’s outlook is even more grim over the next several years. S&P Global Market Intelligence reports utilities will close 51 GW of coal power between 2022 and 2027, followed by a “record plunge” in 2028 with more than 23 GW scheduled closures. Federal rules to keep coal ash and toxic metals out of drinking water will take effect that year – regardless of Supreme Court decisions on the U.S. Environmental Protection Agency’s authority to regulate greenhouse gas emissions – and many utilities are not investing in compliance upgrades for plants that keep losing money.

When utilities ignore coal’s economic and regulatory headwinds, they risk punitive consumer cost spikes. In West Virginia, where coal supplies 89% of statewide power but plants require hundreds of millions in mandatory upgrades, power prices have risen up to 122% in recent years.

Paul Chodak, executive vice president of generation at American Electric Power, told S&P the necessary investments to keep plants online and comply with regulations “was not justified” compared to forecast market prices and alternatives like renewable energy. Other utilities seem to agree with him.

Duke Energy, the country’s second-largest utility, recently announced it will close its 11 coal-fired power plants by 2035 – 13 years earlier than previously expected. Duke says it will replace that generation capacity by more than doubling its renewable energy portfolio to 24 GW by 2030.

Georgia Power, one of America’s most coal-reliant utilities, similarly announced that it would close all 14 of its coal plants no later than 2035 and double its renewable energy generation with up to 6 GW of solar and wind.

Smart policy can help coal-dependent utilities and communities transition

The data also shows we can close coal plants and maintain a reliable power supply, while keeping prices low and creating jobs. A meta-analysis of 11 studies from universities, think tanks, and other organizations agree that closing all coal by 2030 and replacing that generation with clean energy is feasible. Power prices would stay roughly the same or even decline, and this transition would add 500,000 to 1 million new net jobs per year, while generating up to $1.5 trillion in new net investment.

Andres Quiroz, an installer for Stellar Solar, secures a solar panel during installation at a home ... [+]

 © 2012 BLOOMBERG FINANCE LP

However, smart policies are required to help utilities navigate the coal-to-clean shift, keep customer costs low, and ensure a just transition with new economic opportunities for the communities and workers who depend upon the coal industry. Utilities, their regulators, and state policymakers have multiple options to address early coal retirements and facilitate the financial transition.

State legislatures can allow utilities to refinance outstanding debt on existing coal plants by authorizing ratepayer-backed bonds on uneconomic but as-yet undepreciated generation. “Securitization” as it is commonly known, was used extensively to retire stranded utility assets in the 1990s and 2000s, is already being used to help utilities retire coal plants in states like Michigan, and has been authorized in states like Colorado and New Mexico.

State regulators can also allow utilities to change depreciation schedules so that they can free up capital for clean energy investments without forcing customers to continue paying off the “mortgage” on uneconomic coal plants. Utilities can then refinance that mortgage to reduce consumer rates by replacing equity with corporate debt in a “debt for equity” swap.

If utilities are allowed to reinvest capital from uneconomic coal assets into solar or wind when the cost of building new renewables is cheaper than operating existing coal, they can swap “steel for fuel” on early coal plant retirements to add value for investors and customers and reduce operating costs. An emerging alternative policy option in this field is the “solar for coal swap” that could be particularly helpful for utilities to leverage private capital for solar investments that pay a better return on investment over time.

This approach can help facilitate a just transition for coal-dependent workers and communities if done right. In Colorado, for instance, state regulators have approved utility plans to close coal plants and build replacement generation within the same local area, ensuring clean energy jobs and tax revenue help replace those lost to coal closures.

A instillation of four wind generators operate alongside Interstate 25 ten miles south of Pueblo, ... [+]

 CORBIS VIA GETTY IMAGES

Economic solutions must go beyond utilities retiring coal plants to ensure a just transition for the communities that host coal plants and mines, and the workers who depend on them. Policy roadmaps to create a fair economic transition include the Just Transition Fund’s Blueprint for Transition, the National Economic Transition Platform created by a coalition of organizations, and the Reimagine Appalachia coalition’s blueprint. Congress is also currently debating federal energy provisions including economic transition measures, which could build on President Obama’s Power Initiative for coal communities.

America’s coal closures aren’t ending – it’s time to think about what’s next

When even Peabody Coal, the world’s largest private coal company, announces it will invest in 5 GW of new solar and storage capacity, it’s time to admit America’s coal-to-clean transition is accelerating, whether fossil fuel industry proponents admit it or not.

Global events and the oil and gas price volatility they create may slow that trajectory a bit, but only temporarily. Coal’s long-term downward spiral will continue as the world transitions to cleaner energy and the energy security, stability, and sustainability it provides.

But it’s not enough to push coal plant closures. Utility regulators, state officials, and the utilities themselves must be actively engaged now in implementing the policies that can facilitate a shift away from coal that keeps utilities in business, avoids customer rate spikes, and ensures a just transition for the workers and communities who have economically depended on coal.

 

Energy Innovation: Policy and Technology

 

We are a nonpartisan climate policy think tank delivering high-quality research and original analysis to help policymakers make informed energy

... Read More

Silvio Marcacci

 

Silvio is communications director at Energy Innovation, where he leads all media relations and communications efforts.

•  

All energy is very expensive to build. Coal will die as their power plants wear out. If we hope for renewables vrs nat gas for the replacement power source then tech will have to improve. Many states don’t have great wind or southern sun. That’s your calculation. This isn’t a hope game or throw in a solution that is not competitive with nat gas. Lowest costing watt should win. Not ideology. 
Europe chased some stupid ideas by killing nuclear before renewables and batteries were competitive. So they buy nat gas from Putin. Need I say more. 
On the other hand politics played a hand on a large nuclear plant in GA that is 10 years late and has more than doubled estimates. You need experts, not politicians who can actually assess build costs per power source. We can’t be like Russia anymore. We really need some brain power. 

Edited March 16, 2022 by Boat

[Valerie Williams + 129]

People speak of idiotic policies and stupid, nonsensical decisions. Has it crossed anyone's mind that Biden and his handlers are destroying things on purpose? It's not stupidity, it's not a mistake. It's the execution of a plan, and all of these actions make sense if you quit assuming these politicians, and the powers they truly serve, care about the same things we care about.

[notsonice + 1,096]

50 minutes ago, Valerie Williams said:

People speak of idiotic policies and stupid, nonsensical decisions. Has it crossed anyone's mind that Biden and his handlers are destroying things on purpose? It's not stupidity, it's not a mistake. It's the execution of a plan, and all of these actions make sense if you quit assuming these politicians, and the powers they truly serve, care about the same things we care about.

Biden and his handlers are destroying things on purpose?   ha ha ha....... Biden is your master...... when you start babbling nonsense such as.......Biden and his handlers are destroying things on purpose?

[Valerie Williams + 129]

1 hour ago, notsonice said:

Biden and his handlers are destroying things on purpose?   ha ha ha....... Biden is your master...... when you start babbling nonsense such as.......Biden and his handlers are destroying things on purpose?

So you think that Alzheimer's patient is making his own decisions? OK then.

[Valerie Williams + 129]

1 hour ago, notsonice said:

Biden and his handlers are destroying things on purpose?   ha ha ha....... Biden is your master...... when you start babbling nonsense such as.......Biden and his handlers are destroying things on purpose?

Based on this and my encounter with you in another forum, it seems your default response to information that doesn't fit your current mindset is to ridicule it. I wonder if thoughtful reflection is a tactic you've ever considered?

[Old-Ruffneck + 1,177]

11 minutes ago, Valerie Williams said:

Based on this and my encounter with you in another forum, it seems your default response to information that doesn't fit your current mindset is to ridicule it. I wonder if thoughtful reflection is a tactic you've ever considered?

Well, there are several in here that babble on and if not fit their narrative they spew garbage as if they were 15 year old kids. Thanks for your input, JB is most likely a dementia patient. 

[Andrei Moutchkine + 828]

55 minutes ago, Valerie Williams said:

So you think that Alzheimer's patient is making his own decisions? OK then.

Nancy helps him! She's got an Alzheimer's too. (or is ancient enough to have met Kerensky?)

[Valerie Williams + 129]

9 minutes ago, Andrei Moutchkine said:

Nancy helps him! She's got an Alzheimer's too. (or is ancient enough to have met Kerensky?)

Haha. I'm sure she's in there somewhere, but she's drunk all the time, so she can't be calling the shots. Maybe Obama. He did say in an interview a long time ago that he'd like to have a 3rd term by proxy. 

Edited March 16, 2022 by Valerie Williams

[TailingsPond + 500]

On 3/15/2022 at 2:58 PM, Eyes Wide Open said:

Your mortal soul is at risk Ponds...view the below with extreme caution. A triggering event..viewer discretion is advised. VIOLENT CONTENT.

https://youtu.be/O24rulfjA8U

2018

Just add that topic to the list of trump failures.  He didn't like something and he failed to fix it within his term like everything else he planned.

 

Cult is Triggered? #TrumpFail

 

 

Edited March 16, 2022 by TailingsPond

[nsdp + 449]

21 hours ago, Ecocharger said:

Empty propaganda, I guess that's all you can give us. Coal is reaching all-time high production levels world-wide, and will continue to grow in China at enormous rates.

You should recognize empty  propaganda. Putin Jr.

[Ecocharger + 1,383]

22 hours ago, Jay McKinsey said:

All used cars sold are a subset of how many vehicles are in the fleet midget mind. 

You are off-target again, old man, we are talking vehicle SALES not vehicle FLEET.

That includes new and used car sales, the used market is about three times the size of the new, plus trucks, plus SUVs, all of them dominated by the ICE.

One sale which has not been made is to you, with all your baloney about EVs you still shut your wallet tight when anyone suggests that you buy an EV. 

That tells us everything we need to know about your real choice, which is ICE.

 

[Ecocharger + 1,383]

21 hours ago, Jay McKinsey said:

US coal usage for electricity in Q4 2021 down 10% from Q4 2020:

Wind was up 20%

Solar was up 25%

Again off-topic, buddy. You really cannot understand how markets work. World-wide coal production and use is up by a rapid growth rate, and will continue to grow.

And, no, the United States is not the World, time for you to wake up, not woke up.

[Ecocharger + 1,383]

Oil markets look hot and getting hotter going forward.

https://oilprice.com/Latest-Energy-News/World-News/EIA-Oil-Prices-Will-Remain-Above-100-For-Months.html

"Oil prices will remain higher than $100 per barrel in the coming months, reflecting the geopolitical risk from Russia’s war in Ukraine and the tight energy markets with the current and potential future sanctions against Russia, the Energy Information Administration (EIA) said on Wednesday.

Brent Crude prices are expected to average $105.22 per barrel this year, the EIA said in its latest Short-Term Energy Outlook (STEO) last week, significantly raising its February forecast of $82.87.

In its March STEO last week, the EIA said it expects Brent Crude prices to average $117 a barrel in March, $116 for the second quarter of this year, and $102 per barrel in the second half of 2022.

WTI Crude, the U.S. benchmark, is set to average $113 a barrel this month and $112 per barrel for the second quarter of 2022."

Edited March 17, 2022 by Ecocharger

[Jay McKinsey + 1,489]

40 minutes ago, Ecocharger said:

Again off-topic, buddy. You really cannot understand how markets work. World-wide coal production and use is up by a rapid growth rate, and will continue to grow.

And, no, the United States is not the World, time for you to wake up, not woke up.

The United States is the United States and coal is down here by 10%. Very straight forward. Off-topic?? No one put you in charge of topics on this forum.

[Jay McKinsey + 1,489]

47 minutes ago, Ecocharger said:

Oil markets look hot and getting hotter going forward.

https://oilprice.com/Latest-Energy-News/World-News/EIA-Oil-Prices-Will-Remain-Above-100-For-Months.html

"Oil prices will remain higher than $100 per barrel in the coming months, reflecting the geopolitical risk from Russia’s war in Ukraine and the tight energy markets with the current and potential future sanctions against Russia, the Energy Information Administration (EIA) said on Wednesday.

Brent Crude prices are expected to average $105.22 per barrel this year, the EIA said in its latest Short-Term Energy Outlook (STEO) last week, significantly raising its February forecast of $82.87.

In its March STEO last week, the EIA said it expects Brent Crude prices to average $117 a barrel in March, $116 for the second quarter of this year, and $102 per barrel in the second half of 2022.

WTI Crude, the U.S. benchmark, is set to average $113 a barrel this month and $112 per barrel for the second quarter of 2022."

Hahaha!