Zpryme's new special report series, Coal: Development Costs (vs. Natural Gas & Renewables) (part 2 of 3) now available at: www.smartgridresearch.org
FOR IMMEDIATE RELEASE
Austin, TX - (Zpryme) – 1/13/12 – Included in Zpryme's new special report series, Coal: Development Costs (vs. Natural Gas & Renewables) (part 2 of 3), according to the IEA, coal currently makes up about 40% of the world’s power supply. This is projected to grow by an additional 60% by 2030 – mostly by developing countries. Coal also is responsible for 40% of CO2 emissions related to energy.”
However, a new report by Nordhaus et al published in the American Economic Review cite coal-fired energy plants are responsible for more than a quarter of the damage caused by pollution.
Further, according to Dennis Cauchon of USA Today, “In 2010, American residential customers paid an average of 11.54 cents per kilowatt hour, reflecting not only higher fuel prices, but also the expense of replacing old coal plants in order to meet clean air requirements mandated by the federal government.” According to Cameron Thorsteinson, Sr. Analyst at Zpryme, “the environmental and health effects of coal and natural gas are also gaining more attention and may be subject to more regulation. These regulations and the potential removal of the subsidies in the future could significantly raise the cost of coal and natural gas compared to renewables. “
Download the complete report, Coal: Development Costs (vs. Natural Gas & Renewables) (part 2 of 3) for free at Zpryme’s: www.smartgridresearch.org
Siemens predicts that about half of this year's 13,000 megawatts of new power plants are being fueled with natural gas” and by 2016 roughly 30,000 megawatts of new gas-fired power plants will be under development or under construction, all potential customers for Siemens's gas turbines. For the time being according to reports from the EIA, NERC and Exxon Mobile, natural gas seems to be the lowest cost energy source investment as costs associated with coal are rising and natural gas capacity is expanding.
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