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Australians duped into thinking that renewable energy is cheap

Australians duped into thinking that renewable energy is cheap

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Australians duped into thinking that renewable energy is cheap

Crazy World Quiz #2349:

Let’s close the cheapest generators of electricity. Will electricity bills:

a/ go down,   b/  go up,  or  c/ be paid by The Tooth Fairy?

A quarter of Australians don’t know. A half think the answer is “b” or “c”. It’s that bad.

A new survey came out this week which fans of renewables are using to argue we need more renewables, but hidden in the data is the big misinformation that underlies this attitude.

[Sydney Morning Herald]

Adam Morton says:

The wisdom of a campaign by the Turnbull government emphasising the risks of moving too rapidly to renewable energy has been thrown into question by polling that suggests a majority of its supporters don’t agree.

Not at all. The real issue, that Adam Morton misses, is that so much of the country is horribly misinformed. All the key questions in the survey depend on what would happen to electricity prices, and nearly half the country lives under the delusion that “renewables” make our electricity prices cheaper.

All Malcolm Turnbull has to do to turn these figures around is to tell the fact that coal fired electricity is generated for 3 – 4 cents a kilowatt hour. Then run this survey again, and see support for a renewables target crash.

Most Australians have no idea that coal fired power is the cheapest power by far. The Tooth Fairy subsidies mean that some people with solar panels on their roof think they are getting “cheap electricity” when really someone else is paying part of their bill.

Just find us one nation running on wind and solar that has cheap electricity. They don’t exist. The only cost effective renewable energy comes from hydro. Wind and solar theoretically provide cheap electrons sometimes, but we need electricity all day every day, and the net effect the intermittent sources have on the whole grid makes for expensive electricity. The intermittent generators stop us from getting cheap electricity. The subsidies to pander to them (like the RET)  force the cheap generators out of the market.

..Survey, attitudes to Climate Change, renewables, Sydney Morning Herald, April 2017.

If the Australia Institute really wanted to understand what Australians think they would have told Australians the price of coal fired electricity, told them the cost of the subsidy (RET = 9c/KWhr) and asked people if they would rather have lower electricity prices.

h/t David B

 

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April 11, 2017 at 09:52PM

Frack On! British Anti-Fracking Campaigners Lose High Court Battle

Frack On! British Anti-Fracking Campaigners Lose High Court Battle

via The Global Warming Policy Forum (GWPF)
http://www.thegwpf.com

Fracking looks set to go ahead on a Lancashire site after campaigners lost a High Court challenge.

Fracking-green

Opponents urged the court to find a government decision approving planning for the site in Fylde either unfair or unlawful.

The planning application, by developer Cuadrilla, was refused by Lancashire County Council in 2015 but later granted following an appeal.

Communities Secretary Sajid Javid gave the scheme the green light last October.

The Preston New Road Action Group lost their challenge at the Royal Courts of Justice on Wednesday.

Fracking looks set to go ahead at Preston New Road.

Fracking looks set to go ahead at Preston New Road. Credit: ITV News

Shale company Cuadrilla originally made an application to drill up to four wells at Preston New Road.

The plan was supported by Lancashire County Council officials but turned down by the planning committee.

But following a public inquiry, the planning inspector recommended the scheme.

Environmentalists and local campaign groups reacted angrily to the decision, which they said went against the wishes of residents.

Full story

via The Global Warming Policy Forum (GWPF) http://www.thegwpf.com

April 11, 2017 at 09:25PM

Boom & Bust: Global Green Energy Investment Drops Nearly 20% Since 2016

Boom & Bust: Global Green Energy Investment Drops Nearly 20% Since 2016

via The Global Warming Policy Forum (GWPF)
http://www.thegwpf.com

Clean energy investment totaled $53.6 billion worldwide in the first quarter of this year, down 17% from Q1 2016 but only 7% down from the final quarter of last year. The data show a mix of strong and weak features in Q1 2017.

New Investment in Clean Energy by Region, Q1 2014 – Q1 2017 ($BN)

cei-q1

This report covers an overview of annual clean energy investment, quarterly trends in new investments and funds in circulation, clean energy indexes and renewable energy capacity investment.

Read the press release here.

via The Global Warming Policy Forum (GWPF) http://www.thegwpf.com

April 11, 2017 at 09:25PM

Tesla Is The Most Valuable US Carmaker Because Of Hype, Not Results

Tesla Is The Most Valuable US Carmaker Because Of Hype, Not Results

via The Global Warming Policy Forum (GWPF)
http://www.thegwpf.com

This week, Tesla passed Ford and General Motors in market capitalization to become the most valuable American carmaker. Tesla’s stock price is on a tear, up nearly 42 percent since the beginning of the year to more than $300 per share, and the company is currently valued around $53 billion.

Image result for Tesla GM Ford value cartoon

Tesla is still well behind huge foreign automakers like Daimler and Toyota, but the news of upstart Tesla (which also is making significant investments in non-automotive spaces like solar panels and energy storage) moving past 100-year-old brands like Ford and GM is getting a lot of attention.

The question of why Tesla, which lost $675 million on $7 billion in revenue last year, is worth more than GM (with 2016 revenue of $166.4 billion and net income of $9.43 billion) and Ford (with 2016 sales of $151.8 billion and net income of $4.6 billion) is a complicated one. Elon Musk has told a story of hope around Tesla, convincing many investors that it will change the world and create massive profits down the road.

Still, Tesla investors see promise, especially if they value growth over profit. Over the past four years, the electric car firm has more than tripled its sales, while revenue at both Ford and GM have been largely flat over the same period.

“Elon has managed to tell a compelling story in how he’s positioned Tesla,” said Karl Brauer, executive publisher at Kelley Blue Book. “Between the Gigafactory, the solar panel company, and the autonomous technology embedded in every Model S and Model X being produced, Elon can claim to be ahead of traditional automakers on the road to self-driving cars powered by renewable energy.”

The idea, it seems, is that Tesla will eventually make lots of money by selling electric (and self-driving) cars and solar panels, as well as standalone energy storage to residential, commercial, and industrial users. All of these could make Tesla lots of money — though it’s not happening yet.

One report suggests that traditional automakers like GM, Ford, Daimler, and BMW remain ahead of upstart Silicon Valley firms like Waymo, Uber, and Tesla when it comes to self-driving tech — but investors don’t appear to care.

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via The Global Warming Policy Forum (GWPF) http://www.thegwpf.com

April 11, 2017 at 09:25PM