Orsted CEO says abandoning US wind projects a 'real option'
(www.offshore-mag.com)
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They tell us that their solutions are sustainable and that they produce cheap electricity in a reliable way. I take that to mean that they can supply electricity at a price that will make them huge profits.
So why do they need more subsidies? Is it more expensive to make wind turbines than they are letting on?
Homework (for anyone sufficiently interested!):
A simple way to compare energy sources is their capacity factor. A capacity factor describes how intensely a fleet of generators is run. It is a ratio of a fleet's actual generation to its maximum potential generation (according to the Energy Information Agency, EIA). For example nuclear is 80-90%. Coal is 50-60%. Wind is 30-40%. Solar is about 20% Another measure on cost is what is called Levelized Cost. It takes into account all the costs (initial investment and running costs). Conventional coal is 94.8 $/MWh and offshore wind is 243.2. The EIA is a great source for some of the items you listed.
And does the Levelized Cost account for future degradation of the wind turbines, and absolute degradation of solar panels?
The latest EIA publication on Levelized Cost is so complicated. Those economists have gone wild. They have now added battery storage. What is interesting is that they project the costs into the future and take account of two types of tax credits. There will be a phase out of credits over time. But what I find concerning is that the renewables will be built and added to the grid before these credits expire and we will be stuck with them. Another thing I noticed is how they have managed to make it look how renewables now compete nuclear and fossils fuels (which was not the case in the past). source: https://www.eia.gov/outlooks/aeo/pdf/electricity_generation.pdf
There are SOOOO many fraudulent people (or just so brainwashed into thinking what they are doing is good) in SOOOO many facets of our country! I have a feeling my retirement account will depreciate even more than it has in the past 18 months!