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Where science talks and bullshit walks (and Memes live)

'Clean' coal won't be commercially viable before 2030, energy analysis says

Key Points

  • 'Clean coal technologies' are fundamentally out of sync with the move towards more flexible power generation
  • The rising price of gas, coupled with the falling cost of energy storage, has now made renewable energy the cheapest source of reliable power generation in Australia
  • A market signal was required to determine the value of abatement and to allow an orderly retirement of ageing coal-fired generators
  • The call by RepuTex for a clear market signal follows similar arguments mounted by the National Farmers' Federation, which this week reversed its once-vociferous opposition to carbon pricing
  • Chief scientist, Alan Finkel, gave implicit support for an emissions intensity scheme
  • Energy and environment minister, Josh Frydenberg, initially signalled the government would look at the desirability of an emissions intensity trading scheme for the electricity sector as part of its scheduled review of its Direct Action climate policy but he reversed his position after an internal Coalition revolt
  • The Minerals Council of Australia, has used its submission to rebuke Finkel for floating an intensity scheme
  • Clean coal plants are not financeable in Australia unless the government agrees to indemnify projects against the future risk of a carbon price being introduced, and against the cost of delays prompted by likely community protest action
  • Negative investor perceptions mean that new investment in coal-fired capacity would be unlikely to be financed by Australian or international capital markets
  • Risk that a new asset would be stranded if a future government were to adopt tighter emissions constraints

Ironic that eventually id will be money that saves the enviornment. ie: No more coal fired power stations due to the cost, not due to them being a massively polluting technology.

This is also confirmation of sorts that they themselves realise this, and just pretend that the don't.

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