Ecocharger + 1,463 DL November 26, 2023 (edited) 38 minutes ago, Jay McKinsey said: "For PHEVs in general" means a fleet average. "newer vehicles tend to show higher mean fuel consumption than older vehicles" So this is comparing the fleet of newer vehicles to the fleet of older vehicles. If you have an economy city car with a low fuel use engine and it drives for 60 miles with 30 miles on gas and 30 on electricity then you will use X fuel for your fleet on average. If you now add a big SUV with a high fuel use engine to your fleet and it drives for 60 miles with 30 miles on gas and 30 on electricity then you will use >X fuel for your fleet on average. Ten years ago PHEV were all small city cars, now the fleet includes big SUVs and sports cars so fuel usage has gone up. That is your time series. Newer PHEV cars include SUVs and sports cars, older PHEV do not. So mean fuel consumption for the fleet of newer cars is higher. Very simple concept. Bottom line, PHEVs are increasingly reliant on fossil fuels, I am happy to see that you finally recognize that. Now, what you need to do is find some similar TIME SERIES study (not just a static snapshot graph) showing that for American PHEVs the same trend has developed. Thank you, Jay. Edited November 26, 2023 by Ecocharger Quote Share this post Link to post Share on other sites
Jay McKinsey + 1,490 November 27, 2023 (edited) 2 hours ago, Ecocharger said: Bottom line, PHEVs are increasingly reliant on fossil fuels, I am happy to see that you finally recognize that. Now, what you need to do is find some similar TIME SERIES study (not just a static snapshot graph) showing that for American PHEVs the same trend has developed. Thank you, Jay. No they aren't you are just making a fool of yourself for us to laugh at.They turn gas guzzlers into much more fuel efficient vehicles that use far less fuel thus making the entire fleet less reliant on fuel. That is the relevant metric. Soon they will use almost no fuel when the requirement for 50 mile electric range goes into effect. The data showing more electric range equals more electric share is all we need. The other is self evident by just looking at the market. In 2012 the only PHEV was the Chevy Volt. Now there is a huge list of PHEV SUV and sports cars: https://www.caranddriver.com/features/g15377500/plug-in-hybrid-car-suv-vehicles/ Edited November 27, 2023 by Jay McKinsey Quote Share this post Link to post Share on other sites
Rob Plant + 2,756 RP November 27, 2023 On 11/24/2023 at 8:53 PM, Jay McKinsey said: Ah you used the magic word "projections", the data I am presenting are not projections but real world data points, the blue and orange dots!!!!! The government estimate is the black line and is irrelevant. The real world data points are the blue and orange dots, they show exactly what you would expect based on average daily driving distance and battery size. More battery equals more electric driving and it is exactly what should be seen for maximum electric usage based on average daily drives. You're wasting your time arguing with him! 1 Quote Share this post Link to post Share on other sites
Ecocharger + 1,463 DL November 27, 2023 (edited) 17 hours ago, Jay McKinsey said: No they aren't you are just making a fool of yourself for us to laugh at.They turn gas guzzlers into much more fuel efficient vehicles that use far less fuel thus making the entire fleet less reliant on fuel. That is the relevant metric. Soon they will use almost no fuel when the requirement for 50 mile electric range goes into effect. The data showing more electric range equals more electric share is all we need. The other is self evident by just looking at the market. In 2012 the only PHEV was the Chevy Volt. Now there is a huge list of PHEV SUV and sports cars: https://www.caranddriver.com/features/g15377500/plug-in-hybrid-car-suv-vehicles/ No, fossil fuel car sales remain strong while EV sales have stalled. And PHEVs as a segment are increasingly dependent on fossil fuel, as I showed above., and as you appear to acknowledge. Edited November 27, 2023 by Ecocharger Quote Share this post Link to post Share on other sites
Ecocharger + 1,463 DL November 27, 2023 9 hours ago, Rob Plant said: You're wasting your time arguing with him! Am I wasting my time arguing with you, Rob? Quote Share this post Link to post Share on other sites
Ecocharger + 1,463 DL November 27, 2023 (edited) Coal is still King in China. https://oilprice.com/Energy/Energy-General/Chinas-Coal-Boom-Undermines-Its-Clean-Energy-Success.html "China achieves remarkable scale in clean energy generation but faces challenges from accelerating coal-based power capacity investments. Even if the country retires its existing coal capacity at an accelerated pace, China's coal-fired power capacity is projected to rise by 23% by 2030. Emissions have surged in 2023 due to a collapse in hydropower and rising energy demand in the post-Covid era." "China is the world’s biggest consumer of coal and the largest importer of crude oil. Despite soaring renewable power capacity installations in recent years, China continues to consume growing volumes of coal, oil, and natural gas and continues to approve the construction of new coal-fired power capacity. During the first half of 2023 alone, China approved more than 50 GW of new coal power, Greenpeace said in a report in August. That’s more than it did in all of 2021," Edited November 27, 2023 by Ecocharger Quote Share this post Link to post Share on other sites
footeab@yahoo.com + 2,190 November 27, 2023 (edited) 3 hours ago, Ecocharger said: Coal is still King in China. https://oilprice.com/Energy/Energy-General/Chinas-Coal-Boom-Undermines-Its-Clean-Energy-Success.html "China achieves remarkable scale in clean energy generation but faces challenges from accelerating coal-based power capacity investments. Even if the country retires its existing coal capacity at an accelerated pace, China's coal-fired power capacity is projected to rise by 23% by 2030. Emissions have surged in 2023 due to a collapse in hydropower and rising energy demand in the post-Covid era." "China is the world’s biggest consumer of coal and the largest importer of crude oil. Despite soaring renewable power capacity installations in recent years, China continues to consume growing volumes of coal, oil, and natural gas and continues to approve the construction of new coal-fired power capacity. During the first half of 2023 alone, China approved more than 50 GW of new coal power, Greenpeace said in a report in August. That’s more than it did in all of 2021," Actually it is far worse for those fools. Apparently whoevver wrote that oilprice article actually believed the BS the people in Finland typed in the first 50 pages instead of going DIRECTLY to the appendix' where all the data is. If you follow the link to the actual PDF, those numbers are ALL based on installed Capacity, not actual kWh, MWh, GWh, TWh used from said sources in said percentages. If you read closer only Guandong aren't lying out their arses and built 30GW of new coal and 27GW of Natural Gas in 2023.... 57GW NEW capacity which actually produced near what the capacity claims as their capacity factor is very close to installed and they did not even bother to pretend to go solar/wind(Good thing they have no solar/wind in Guandong) Guandong for those who do not know is ~Shenzen, Canton(now Guandong), Hong Kong pearl river delta. The number of new built coal is not 50GW as you stated it is actually FAR HIGHER. Naturally the liars in the PDF lump Hydro in with Wind/Solar so you can't differentiate between new dam construction which actually provides power when YOU want it and solar/wind which do not. What is interesting is if you look at all the gargantuan dams China is in process of building on Yangtse, Yellow, Selewan, Mekong, they will roughly ~ DOUBLE their hydropower in the next decade. It is good to be king of the Tibet plateau is the moral to the story here. Same with whatever amount of precipitation falls on Xiang goes towards the ?? Taklima?ken? desert dropping ~3000m. That dear friends is an ENORMOUS power potential. Now if only Peru/BOlivia/Columbia etc got its act together... they could actually become rich countries with all that ~free hydropower. EDIT: PS It is worse as most of what is typed in that PDF by climate weenies out of Finland is based on "surveys"... I kid you not. Survey's. Edited November 27, 2023 by footeab@yahoo.com 1 Quote Share this post Link to post Share on other sites
Jay McKinsey + 1,490 November 28, 2023 (edited) 6 hours ago, Ecocharger said: No, fossil fuel car sales remain strong while EV sales have stalled. And PHEVs as a segment are increasingly dependent on fossil fuel, as I showed above., and as you appear to acknowledge. All you showed is that more traditional gas guzzlers are being made as PHEV thus decreasing overall fuel dependence. And EV sales are growing much faster than the overall auto market: U.S. vehicle sales fell modestly in October U.S. vehicle sales fell 1.1% month-on-month (m/m) to 15.5 million (annualized) units in October – coming in below consensus expectations for 15.6 million units. Unadjusted sales volumes were 1.20 million units or 1.6% above year-ago level 1.6% YOY Plug-In Vehicle Sales A total of 112,483 plug-in vehicles (91,537 BEVs and 20,946 PHEVs) were sold during October 2023 in the United States, up 25.9% YOY from the sales in October 2022. Edited November 28, 2023 by Jay McKinsey Quote Share this post Link to post Share on other sites
Ecocharger + 1,463 DL November 28, 2023 8 minutes ago, Jay McKinsey said: All you showed is that more traditional gas guzzlers are being made as PHEV thus decreasing overall fuel dependence. The point is that PHEVs are increasingly dependent on fossil fuels, which you apparently agree with. That's fine. 1 Quote Share this post Link to post Share on other sites
Jay McKinsey + 1,490 November 28, 2023 (edited) 3 minutes ago, Ecocharger said: The point is that PHEVs are increasingly dependent on fossil fuels, which you apparently agree with. That's fine. Keep making a fool of yourself for us to laugh at. And EV sales are growing much faster than the overall auto market: U.S. vehicle sales fell modestly in October U.S. vehicle sales fell 1.1% month-on-month (m/m) to 15.5 million (annualized) units in October – coming in below consensus expectations for 15.6 million units. Unadjusted sales volumes were 1.20 million units or 1.6% above year-ago level up 1.6% YOY Plug-In Vehicle Sales A total of 112,483 plug-in vehicles (91,537 BEVs and 20,946 PHEVs) were sold during October 2023 in the United States, up 25.9% YOY from the sales in October 2022. Edited November 28, 2023 by Jay McKinsey Quote Share this post Link to post Share on other sites
Ecocharger + 1,463 DL November 28, 2023 (edited) 3 hours ago, Jay McKinsey said: Keep making a fool of yourself for us to laugh at. And EV sales are growing much faster than the overall auto market: U.S. vehicle sales fell modestly in October U.S. vehicle sales fell 1.1% month-on-month (m/m) to 15.5 million (annualized) units in October – coming in below consensus expectations for 15.6 million units. Unadjusted sales volumes were 1.20 million units or 1.6% above year-ago level up 1.6% YOY Plug-In Vehicle Sales A total of 112,483 plug-in vehicles (91,537 BEVs and 20,946 PHEVs) were sold during October 2023 in the United States, up 25.9% YOY from the sales in October 2022. Pathetic response from you, yes you finally admitted that I was right, that PHEVs are increasingly reliant on fossil fuels, despite the hysterical cries from you and Rob. Those are also pathetic numbers for EV sales, it looks like EV sales are down in recent months, just as I claimed. Thanks, Jay. Edited November 28, 2023 by Ecocharger 2 Quote Share this post Link to post Share on other sites
TailingsPond + 875 GE November 28, 2023 10 hours ago, Ecocharger said: No, fossil fuel car sales remain strong while EV sales have stalled. The data doesn't say that. Sales of all car types are down. You ignore everything that doesn't fit your ideology. Next you will say oil demand is strong despite ongoing production curtailment and falling prices. Any day now you or eyes wide shut will get something right. Any day now! Quote Share this post Link to post Share on other sites
Ecocharger + 1,463 DL November 28, 2023 (edited) 5 minutes ago, TailingsPond said: The data doesn't say that. Sales of all car types are down. You ignore everything that doesn't fit your ideology. Next you will say oil demand is strong despite ongoing production curtailment and falling prices. Any day now you or eyes wide shut will get something right. Any day now! You should open your eyes, old boy. PHEVs are consuming increasing amounts of fossil fuels. Even Jay accepts that, after some discussion. Oil production is at an all-time HIGH, coal production is soaring in China, wake up and embrace the beautiful world of fossil fuels, and be grateful for the abundant lifestyle we enjoy because of them. Fossil fuel cars have small inventories, EVs have gigantic inventories. That tells you what you need to know. "China is the world’s biggest consumer of coal and the largest importer of crude oil. Despite soaring renewable power capacity installations in recent years, China continues to consume growing volumes of coal, oil, and natural gas and continues to approve the construction of new coal-fired power capacity. During the first half of 2023 alone, China approved more than 50 GW of new coal power, Greenpeace said in a report in August. That’s more than it did in all of 2021," Edited November 28, 2023 by Ecocharger 1 Quote Share this post Link to post Share on other sites
TailingsPond + 875 GE November 28, 2023 2 minutes ago, Ecocharger said: You should open your eyes, old boy. Oil production is at an all-time HIGH, coal production is soaring in China, wake up and embrace the beautiful world of fossil fuels, and be grateful for the abundant lifestyle we enjoy because of them. Fossil fuel cars have small inventories, EVs have gigantic inventories. That tells you what you need to know. "China is the world’s biggest consumer of coal and the largest importer of crude oil. Despite soaring renewable power capacity installations in recent years, China continues to consume growing volumes of coal, oil, and natural gas and continues to approve the construction of new coal-fired power capacity. During the first half of 2023 alone, China approved more than 50 GW of new coal power, Greenpeace said in a report in August. That’s more than it did in all of 2021," Production is not sales and OPEC+ could be producing way more but it would collapse prices. Even with the cuts oil prices are down YOY and severely down in the sort term. This website has data showing the decline if you just look. EV production and sales are at an all time high. We were not discussing coal. Try to stay on topic. Also, you are quoting greenpeace now? Perhaps go read some more of their literature. Quote Share this post Link to post Share on other sites
Ecocharger + 1,463 DL November 28, 2023 3 minutes ago, TailingsPond said: Production is not sales and OPEC+ could be producing way more but it would collapse prices. Even with the cuts oil prices are down YOY and severely down in the sort term. This website has data showing the decline if you just look. EV production and sales are at an all time high. We were not discussing coal. Try to stay on topic. Also, you are quoting greenpeace now? Perhaps go read some more of their literature. Production and sales are closely related, production follows sales demand....you never studied business or economics? I guess not. Coal is a fossil fuel, the subject of this thread. Enjoy. 1 Quote Share this post Link to post Share on other sites
TailingsPond + 875 GE November 28, 2023 (edited) 29 minutes ago, Ecocharger said: Production and sales are closely related, production follows sales demand....you never studied business or economics? I guess not. Coal is a fossil fuel, the subject of this thread. Enjoy. I was talking about sales of cars and you respond with coal. Try again, fail again. Playing your revoked economist card won't work anymore after your garbage oil price predictions and failure to understand car sales numbers. Sadly, widespread EV adoption might help some coal power plants. However, consider that for every EV that is powered by coal electricity the oil industry takes a loss. It is simply a change is fossil fuel types. You also fail to understand that increased electricity demand is because EV's are being sold and used (especially in China). It will be funny when you simultaneously argue that "EV's are straining the grid" and "no EV's are being sold." It can't be both bud. Edited November 28, 2023 by TailingsPond 1 Quote Share this post Link to post Share on other sites
Ecocharger + 1,463 DL November 28, 2023 (edited) 6 minutes ago, TailingsPond said: I was talking about sales of cars and you respond with coal. Try again, fail again. Playing your revoked economist card won't work anymore after your garbage oil price predictions and failure to understand car sales numbers. Sadly, widespread EV adoption might help some coal power plants. However, consider that for every EV that is powered by coal electricity the oil industry takes a loss. It is simply a change is fossil fuel types. You also fail to understand that increased electricity demand is because EV's are being sold and used (especially in China). It will be funny when you simultaneously argue that "EV's are straining the grid" and "no EV's are being sold." It can;t be both bud. Okay, Mr. Non-Economist, you have earned your badge. You have the amateur idea of zero-sum markets (also shared by a certain other poster here). Strictly amateur stuff. Fossil fuels growth accompanies other sources of energy growth, if you bother to actually study some economics. Fossil fuels are at about 84% of energy supply, stable over many decades. The foolish attempt to shut down fossil fuels will crumble as soon as a rational White House gets elected. Edited November 28, 2023 by Ecocharger Quote Share this post Link to post Share on other sites
TailingsPond + 875 GE November 28, 2023 (edited) 5 minutes ago, Ecocharger said: The foolish attempt to shut down fossil fuels will crumble as soon as a rational White House gets elected. Haha any day now! I do real science, being called a "non-economist" is not an insult. You, however, might be an economist but a really poor one. Edited November 28, 2023 by TailingsPond Quote Share this post Link to post Share on other sites
Ecocharger + 1,463 DL November 28, 2023 2 minutes ago, TailingsPond said: Haha any day now! Sooner the better. Quote Share this post Link to post Share on other sites
TailingsPond + 875 GE November 28, 2023 Just now, Ecocharger said: Sooner the better. Good luck with that. Do you own a MAGA hat that was made in China? Quote Share this post Link to post Share on other sites
Ecocharger + 1,463 DL November 28, 2023 Just now, TailingsPond said: Good luck with that. Do you own a MAGA hat that was made in China? Do you own an EV? Quote Share this post Link to post Share on other sites
Rob Plant + 2,756 RP November 28, 2023 (edited) 22 hours ago, Ecocharger said: Am I wasting my time arguing with you, Rob? Yes! The more battery you have in a PHEV the more you're going to use the battery as its cheaper. You just cant seem to understand this basic point. If you drove a PHEV would you choose to just use gas when the battery was full and basically ignore the free energy in the battery? You seem to be suggesting you would when any other human being would use the battery. Crazy logic. Many new PHEV's will go up to 40 miles on battery life but this needs to be more like 60-70 IMHO. I have a PHEV because I didnt buy the car and I am lazy and impatient with re-charging and have range anxiety, otherwise I'd have an EV, and I probably will have an EV in 12 months time. Edited November 28, 2023 by Rob Plant Quote Share this post Link to post Share on other sites
Jay McKinsey + 1,490 November 28, 2023 (edited) 15 hours ago, Ecocharger said: Pathetic response from you, yes you finally admitted that I was right, that PHEVs are increasingly reliant on fossil fuels, despite the hysterical cries from you and Rob. Those are also pathetic numbers for EV sales, it looks like EV sales are down in recent months, just as I claimed. Thanks, Jay. Rob and I win on PHEVs decreasing total fuel reliance, which is what is relevant.The PHEV version of a vehicle is far less reliant on fuel than the ICE version. End of story. You are spouting stupid irrelevant nonsense and making a fool of yourself as you love to do. The ICE Jeep gets 17/23 MPG and the PHEV Jeep 4xe gets 49 MPG and has far more power you fool. And let us be clear, you claim to be an economist but you are claiming that people use expensive gasoline instead of cheap electricity to accomplish the same task. Well that is economically idiotic. Yet again you prove you are not an economist. ICE sales are not strong they are down month on month as the headline states and EVs are still growing faster YOY by a huge ratio. All you can do is accept this reality or lie about it. Edited November 28, 2023 by Jay McKinsey Quote Share this post Link to post Share on other sites
Ron Wagner + 706 November 29, 2023 https://www.zerohedge.com/energy/texass-green-energy-dream-risking-its-electric-grid HOME PREMIUM CONTRIBUTORS CHANNELS PARTNERS MERCH ABOUT MORE LOGIN LOGIN Username Password LOGIN CREATE NEW ACCOUNTRESET YOUR PASSWORD This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. ZEROHEDGE READS ALT-MARKET ANTIWAR.COM BITCOIN MAGAZINE BOMBTHROWER BULLIONSTAR CAPITALIST EXPLOITS CHRISTOPHE BARRAUD DOLLAR COLLAPSE DR. HOUSING BUBBLE FINANCIAL REVOLUTIONIST FOREXLIVE GAINS PAINS & CAPITAL GEFIRA GMG RESEARCH GOLD CORE IMPLODE-EXPLODE INSIDER PAPER LIBERTY BLITZKRIEG MAX KEISER MISES INSTITUTE MISH TALK NEWSQUAWK OF TWO MINDS OIL PRICE OPEN THE BOOKS PETER SCHIFF QTR’S FRINGE FINANCE SAFEHAVEN SLOPE OF HOPE SPOTGAMMA TF METALS REPORT THE AUTOMATIC EARTH THE BURNING PLATFORM THE ECONOMIC POPULIST THE LIBERTARIAN INSTITUTE THE SAKER THEMIS TRADING VALUE WALK VISUAL COMBAT BANZAI7 WOLF STREET EXPAND Texas’s Green Energy Dream Is Risking Its Electric Grid BY TYLER DURDEN MONDAY, NOV 27, 2023 - 07:20 PM Authored by Michael Washburn via The Epoch Times (emphasis ours), Since Texas weathered its second-hottest summer on record and faced unprecedented demands on its power grid, the future of energy supply and use in the state—and across the country—has become the subject of national discussion. Air conditioners were in constant use in Texas over the summer as average temperatures reached 85.3 degrees between June and August and didn't dip below 100 degrees for weeks on end in some cities. (Illustration by The Epoch Times, freepik) Recommended Videos Italian ceramics factory works early to save energy 24.7K Expo Essentials on Sale! Take me to Sale Simplifi by Quicken Try Now Ad: (9) Skip Ad The strain that the soaring temperatures put on the Electric Reliability Council of Texas (ERCOT), the state’s energy distribution network, is severe, no matter the circumstances. Making that situation all the more dire is the rapid growth of the state’s population and the rising number of tech companies that are installing or expanding facilities in Texas that require massive amounts of power to operate. More and more people live and work in a state that's woefully unprepared to cope with soaring demand. “Peak demand in ERCOT has grown 14 percent since 2019, while our supply of thermal generation—gas, coal, nuclear—has remained essentially flat,” Brent Bennett, policy director of Life:Powered, an initiative of the Texas Public Policy Foundation, told The Epoch Times. The investment of $99 billion in wind and solar infrastructure in Texas and about $10 billion more in green energy transmission lines has not only failed to improve energy supply but has exacerbated the problem, he said. Mr. Bennett and others say overinvestment in green energy comes at the expense of investment in sources that actually work. Texas Swelters The summer of 2023 was so hot that officials in some areas came close to adopting daily “load shedding,” or power outages, at least as a temporary expedient—protocols similar to those that have made life miserable for many people living in South Africa, whose state-run energy distributor, Eskom, is notoriously ill-managed. An aircraft drops fire retardant in Riverside County, Calif., on July 14, 2023. Tens of millions of Americans are facing dangerously high temperatures as a powerful heat wave stretches from California to Texas. (DAVID SWANSON/AFP via Getty Images) Texas cities sweltered at 105 degrees or hotter for the most days in a row on record. On Aug. 20, ERCOT hit a milestone: an all-time weekend peak demand record of 84,805 megawatts (MW), according to Alexander Stevens, manager of policy and communications at the Institute for Energy Research, a Washington-based nonprofit agency. Mr. Stevens compared that figure to the August 2022 peak demand of 78,485 MW. Even that Aug. 20 weekend peak demand wasn't as high as the demand on individual days this past summer. On Aug. 10, ERCOT grappled with 85,435 MW of demand and hit 81,674 MW on Sept. 5. Mr. Stevens attributes the records partly to population growth, noting that from 2000 to 2022, Texas received an influx of 9,085,073 new residents, a record among states and 3 million more than the runner-up, Florida. The retreat of excruciatingly hot weather over the autumn doesn't mean that the Lone Star State is out of trouble. With winter approaching and posing its own set of challenges, ERCOT last month began soliciting bids from power providers in the hope of ramping up its reserves by at least 3,000 MW. Given that 2023 was far from the first hot summer in Texas and that the demographic trends have been underway for many years, some may wonder why the state is scrambling now to try to expand its reserves and avoid more emergencies. Mr. Stevens and other experts who spoke to The Epoch Times agree that while renewable energy isn't sufficient to meet demand, politicians who want to appear forward-looking and in line with environmental, social, and governance (ESG) imperatives aren't listening. A Green Energy Panacea? Even with policies specifically tailored to meet Texas’s acute needs, the market would be a challenging one. But, in the face of all these trends, Texas doesn't receive anything close to the level of investment in energy production and distribution systems and facilities that it requires to meet demand. In fact, policies that encourage wind, solar, and other so-called green and renewable energy sources not only fail to meet the demand but actively undermine any efforts to sustain and broaden supply networks that aren't cyclical in nature and vulnerable to changes in the amount of wind or solar energy available at a given time, specialists in energy use have told The Epoch Times. Part of the issue here is cultural and political. Some people assume that only political and social regressives living in flyover states, with a callous attitude about the environment, would harbor doubts about or oppose generous subsidies for ESG policies. Many view ESG as essentially well-intentioned and lack any understanding of how such policies actually divert resources from and wreck the competitiveness of the utilities on which millions of people depend for their day-to-day existence, according to energy sector experts. The escalating crisis in Texas has implications for the availability and reliability of energy throughout the nation, given the tendency in other states to favor ESG-based solutions and the demographic trends that expand energy use without regard for available resources, the experts say. Misdirected Allocations The problem comes down to flawed energy policy, William Keffer, director of the Energy Law Programs at Texas Tech University, told The Epoch Times. “As a general observation, we have allowed our sources for electricity in the state to become lopsided, so that we have too much dependence on the renewables sector—wind and solar—and not as much capacity as we should have when it comes to the dispatchable sources like natural gas, coal, and nuclear,” he said. Investors looking at opportunities in Texas and elsewhere obviously seek out assets that they expect to generate high returns, and the federal tax credits lavished on wind and solar facilities have helped bring about this lopsided market, he said. The original idea of providing subsidies to foster renewable energy sources back in the 1990s was understandable, even laudable, but legislators have gone on renewing tax credits for such projects without regard for market dynamics, Mr. Keffer said. A clause of President Joe Biden’s Inflation Reduction Act extends the Investment Tax Credit, offering a 30 percent credit for wind, solar, storage, and other renewable initiatives, he pointed out. The Biden administration is a huge backer of tax credits for investments in wind and solar projects. On May 31, the Treasury Department, the Energy Department, and the IRS released new guidance regarding an allocated credit program, offering a 20 percent tax credit on top of the existing 30 percent credit for wind and solar facilities in low-income communities. “We just keep on extending these tax credits, which is going to continue to disrupt the market, with people spending their money in ways they would not otherwise,” Mr. Keffer said. Undercutting the Dispatchables With such lavish tax credits, wind and solar facilities can essentially sell their energy for close to zero dollars and still turn a profit, according to Mr. Keffer. The producers of dispatchable and badly needed energy sources aren't in this position, hence they aren't attractive investment targets, and no one wants to finance the building or expansion of coal, natural gas, or nuclear facilities. “Wind and solar are always going to beat them to the punch with an artificially low price, such that they can’t sell their electricity at a price that gives them a return on their investment,” he said. “Coal plants continue to be shut down, and natural gas plants don’t add to their lineup, because nobody wants to invest in a new one." Wind turbines in Papalote, Texas, on June 15, 2021. The Electric Reliability Council of Texas, which controls approximately 90 percent of the power in Texas, has requested that residents conserve power as temperatures surge in the state. (Brandon Bell/Getty Images) 18,48794 MORE ENERGY STORIES ON ZEROHEDGE WTI Holds Gains After API Reports First Crude Draw In 6 Weeks No, It's Not Biden! 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Ecocharger + 1,463 DL November 29, 2023 16 hours ago, Rob Plant said: Yes! The more battery you have in a PHEV the more you're going to use the battery as its cheaper. You just cant seem to understand this basic point. If you drove a PHEV would you choose to just use gas when the battery was full and basically ignore the free energy in the battery? You seem to be suggesting you would when any other human being would use the battery. Crazy logic. Many new PHEV's will go up to 40 miles on battery life but this needs to be more like 60-70 IMHO. I have a PHEV because I didnt buy the car and I am lazy and impatient with re-charging and have range anxiety, otherwise I'd have an EV, and I probably will have an EV in 12 months time. Rob. the data shows that in spite of larger battery range and increased availability of charging, PHEVs are increasingly dependent on fossil fuels. The numbers have already been given to you, but you refuse to look at them or even think about them, let alone discuss them. Look at the actual numbers and learn something. 1 Quote Share this post Link to post Share on other sites