Barnaby Joyce's costly gamble on coal

Originally posted by raiderup ↑

Barnaby Joyce's costly gamble on coal

It makes no sense to build a new coal power station in Queensland when existing coal stations are in financial trouble.

Queensland's budget papers reveal that state-owned coal power stations will stop providing returns in just two years.
Coal-fired power stations are having a hard time staying profitable because cheaper solar and wind energy is driving down the wholesale price of electricity.
Building a new coal-fired power station would be a costly exercise requiring significant government handouts.
What's worse, by dragging the conversation back to coal, the Nationals are denying regional Australians the chance to diversify and future-proof local economies.
In the new world economy, Australia's impressive solar and wind resources, and key mineral deposits, are a competitive advantage that could see us processing and manufacturing materials for the electric vehicle boom.
Plus, we have all the ingredients to become a clean energy superpower and start exporting renewable hydrogen fuel to power cities across the world.

The proposal to build a new 1000MW coal plant in North Queensland, which is being championed by members of the Nationals, would cost more than $3.3 billion.
For that same money, we could build:

2860MW of large-scale solar - enough to power 1.3 million homes.

1840MW of four-hour battery storage - big batteries are designed to respond instantly to grid disturbances and can keep the lights on when power plants fail.

1430MW of six-hour pumped hydro - storage options like pumped hydro can soak up excess solar energy during the day and generate energy at night.

If Barnaby and his coal-loving colleagues truly stand for regional Australians, they would be better investing in affordable renewable energy and local manufacturing.

https://www.canberratimes.com.au/st...p;utm_medium=home&utm_campaign=latestnews

Raider

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"Queensland's budget papers reveal that state-owned coal power stations will stop providing returns in just two years."

If this is the case I can see no reason what so ever for any Coal-fired or Gas Power Stations for that matter to be open within 2 years time in Qld.

The Govs that make these reports need to start leading by example.

Shut the lot down in 2 years time no questions asked, no starting them back up again for ANY reason.

Once Australia gets rid of all fossil fuels and Ice vehicles the World we be saved.

The likes of China and India will be able to do as they please, Australia's admissions are the key to saving the entire World from eminent destruction.

The quicker Co2 is removed from the atmosphere the better for all.