Time to break out of the utility death spiral by breaking
away from cost overruns at Kemper “clean” Coal
and the Plant Vogtle nuclear boondoggle
and getting on with real renewable solar and wind power.
Reducing to Sell on continued delays for the Kemper IGCC project
With further delays and increased costs for the Kemper IGCC project
resulting in yet another $380M of writedowns (further slippage
costing $25M/month) and now the likely loss of $120M-$150M of bonus
depreciation as well, we view the current premium P/E multiple as
While the Vogtle nuclear project appears to be on track,
the presence of two major risky projects, Continue reading →
Utility companies have been looking for new regulations and higher
connection charges to save them from a “death spiral”
spurred by a surge in rooftop solar installations. Instead, says
former Energy Secretary Steven Chu, they should get into the rooftop
…progress in solar panels has been so dramatic and sustained that, as a blog post at Scientific American put it, “there’s now frequent talk of a
‘Moore’s law’ in solar energy,”
with prices adjusted for inflation falling around 7 percent a year.
This has already led to rapid growth in solar installations, but even more change may be just around the corner. If the downward trend continues — and if anything it seems to be accelerating — we’re just a few years from the point at which electricity from solar panels becomes cheaper than electricity generated by burning coal.
And if we priced coal-fired power right, taking into account the huge health and other costs it imposes, it’s likely that we would already have passed that tipping point.
I added the blockquotes and the Moore’s Law link. Seems to me physicist Sec. Chu must be looking only at the sticker price,
while economist Krugman is also looking at other costs and at externalities not currently included in the sticker price, yet still costing us in other ways.
Add in the costs of wars for oil and I wonder how long ago solar already became cheaper than oil….