We’re planning to spend $5,000 million on something to smooth out the bumps from unreliable generators. It is entirely unnecessary in a system where coal supplies the baseload and we have not created artificial rules forcing people to use green electrons in preference over stable and predictable ones. Most estimates of costs from wind and solar ignore the hidden costs — the destructive effect on the whole grid.
Wikipedia on Pumped Storage Hydroelectricity:
“the round-trip energy efficiency of PSH varies between 70%–80%, with some sources claiming up to 87%.
h/t Peter Rees, Michael Crawford, Ian Waters.
Even after Snowy Hydro 2.0, power will cost $90/MWh
Joe Kelly, The Australian last week:
Energy project financier David Carland — the executive director of Australian Resources Development Limited — argues that once the Snowy Hydro project is operating it will provide only partial back-up energy at a high cost.
Using Snowy Hydro’s modelling assumptions, Dr Carland’s calculations show the “levelised cost of energy” — or unit-cost of electricity over the lifetime of an asset — will deliver power significantly in excess of $90/MWh, after allowing for the cost of storage, cycle losses and the initial cost of buying energy at off-peak […]
July 8, 2018 at 11:08PM