Solar makes near new coal power plant worthless

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KrazyKid

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#280484 17-Dec-2020 13:02

Over in WA the value a nearly new (just 10YO) coal fired power plant has been written down to an accounting value of zero by investors.
Seems Aussie is producing so much solar power now.

There has been a huge uptake in solar panels in recent years in AU.

https://www.abc.net.au/news/2020-12-17/bluewaters-coal-fired-power-station-written-off-books/12990532

Dingbatt

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#2623269 17-Dec-2020 13:23

The article links to another about low power prices while the sun is shining, high prices when it’s not. Maybe investment in batteries is warranted.

Or even better still a nuclear plant on the site of the coal fired one since the distribution infrastructure is already in place and could handle the base load.

“We’ve arranged a society based on science and technology, in which nobody understands anything about science technology. Carl Sagan 1996

elpenguino

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#2623275 17-Dec-2020 13:35

A contact in the WA energy business told me the Bunbury coal station shuts down most Friday nights and re-spins up Monday mornings. Compare to other coal stations which have years between shut downs.

Due to the local solar generation, as you say.

Most of the posters in this thread are just like chimpanzees on MDMA, full of feelings of bonhomie, joy, and optimism. Fred99 8/4/21

concordnz

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#2623283 17-Dec-2020 14:01

It looks more accounting/political to me than anything - probably in preparation for begging for a government handout(by either the power company or the Coal Mine - or both) to 'maintain jobs'.
Its a bit hard to beg for government handouts when your books are showing a healthy profit.

There has been discussion on here, as to the need for 'reserve/residual capacity due to how variable Solar/wind are. - ironically you need greater matching reserves, the more solar you have (for when the sun doesn't shine)