Posted on 02/28/2023 4:02:49 AM PST by george76
China approved 168 coal-fired power plants in 2022, the most rapid expansion of the country’s coal-fired power capacity since 2015, according to a report by the Centre for Research on Energy and Clean Air (CREA) and Global Energy Monitor (GEM) Monday.
Chinese companies began constructing 50 gigawatts (GW) worth of coal-fired power capacity in 2022, more than triple the rest of the world put together and spiking 50% from 2021, according to the report. Conversely, President Joe Biden’s signature Inflation Reduction Act (IRA) is expected to lead to the retirement of 30 GW to 60 GW of U.S. coal-fired power plants by 2030, by making it more difficult for coal to compete with renewables, E&E News reported, citing an analysis by analytics firm Rhodium Group.
“China continues to be the glaring exception to the ongoing global decline in coal plant development,” said GEM Research Analyst Flora Champenois in the report’s accompanying press release. “The speed at which projects progressed through permitting to construction in 2022 was extraordinary, with many projects sprouting up, gaining permits, obtaining financing and breaking ground apparently in a matter of months. This kind of a process leaves little room for proper planning or consideration of alternatives.”
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Tax credits in the IRA would make it less expensive to operate a wind or solar farm in the same location of all but one of the 210 coal-fired power plants in the U.S., according to a January report by climate policy think tank Energy Innovation. The tax credits are part of $369 billion of subsidies for wind, solar and battery production in the IRA that make it less economical to operate coal-fired plants compared to renewable alternatives, E&E reported.
In addition, the Biden Environmental Protection Agency (EPA) is expected to introduce a slew of six new regulations, which range from tougher mercury and air toxicity rules to stricter groundwater waste limits, that are expected to accelerate the pace of coal plant retirements. E&E reported. One rule, which will limit pollution crossing state lines, could force 23 GW of coal-fired power offline by 2025 alone, Rich Nolan, president of the National Mining Association, told E&E News.
“I mean, it all comes back to economics, honestly,” Ben King, associate director of the Rhodium Group, told E&E News. “You know, at some point, you stop deciding to invest in a plant that you have to keep putting more and more money into just to keep it running, and it’s increasingly uneconomic in the market.”
China is responsible for roughly half of all coal consumption and production worldwide, and the expansion of coal capacity runs counter to President Xi Jinping’s stated goals of halving carbon emissions by 2030 and hitting net zero by 2060, Bloomberg reported. While some Chinese provinces have described the new permits as “supporting” the country’s power grid, they plan to run at “baseload utilization,” indicating that they will be the primary source of power in these regions, over clean energy, according to the CREA report.
In November, Biden claimed at a midterm campaign event that coal plants were economically unreliable, and that the U.S. would be “shutting these plants down all across America and having wind and solar,”
Gosh. Don’t they care about Climate Change?
You need cheap power with surplus capacity to grow your economy. I had a friend in SC who worked for Duke at one of the nuke plants, and he stated that whatever economic growth you planned, you needed to grow the power grid by an extra 25%. So, 4% economic growth needed 5% power growth to have the energy available. Guess Joe doesn’t have any real plans for the US economy to grow.
When is Joe going to ban all overseas shipments of coal? That would show GRETA he’s down with the cause.
We’re making America a nice clean place for China to take over.
Eye opening committee hearing where senator Kennedy grilled budget committee climate change pukes on how much money they want to combat this scam.
“so by 2035 we will be zero carbon emissions here in the US.
-What temperature change could we expect? I DONT KNOW,
will china and india comitt? I DONT KNOW
-what if china and india refuse to go along with this like they are doing now How do you expect them to respond?
I DONT KNOW
So give me money I have no answers for you
smells like scam to me
We cannot meet out Climate Target on the Back of the Poor!
People flying private Jets cannot tell people who burn animal dung to eat cooked food, they must continue to suffer energy poverty.
China is by FAR the worlds largest producer of greenhouse gasses and pollution in general. The fact that Leftists never criticize China or demand sanctions on these issues tells us that this issue is just a tool to attack America and the West. If they were really concerned about climate, China’s actions affect everyone. It’s called GLOBAL WARMING, not America Warming or Europe warming.
I agree. Whoever controls the engery controls the world.
ping
A nation can build a lot more carriers, subs, and fighter planes when their factories are powered by coal than a nation whose factories are powered by windmills.
PJM Report Warns Retirement of Fossil Fuel Plants Will Create Outages
coal is good.
Like when they talk about how the fall of the roman empire, this his is one of the things they will talk about when they will mention about the United States in history. No one can see how it’s right in front of our faces. Not just to decay into weakness, but often to do it to yourself intentionally.
So China’s coal reserves are depleted, and the regime is reducing fossil fuel consumption in America. Where is China going to get the coal from for these new plants?
Perplexing isn’t it?
The Democrats are in a state of total war against human existence. We need war crimes trials.
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