by K.G. Gregory, Aug 23, 2022 in FriendsOfScience
Many governments have made promises to reduce greenhouse gas emissions by replacing fossil fuels with solar and wind generated electricity and to electrify the economy. A report by Thomas Tanton estimates a capital cost of US$36.4 trillion for the U.S.A. economy to meet net zero emissions using wind and solar power. This study identifies several errors in the Tanton report and provides new capital cost estimates using 2019 and 2020 hourly electricity generation data rather than using annual average conditions as was done in the Tanton report. This study finds that the battery costs for replacing all current fossil fuel fired electricity with wind and solar generated electricity, using 2020 electricity data, is 111 times that estimated by the Tanton report. The total capital cost of electrification is herein estimated, using 2020 data, at US$290 trillion, or 13.5 times the U.S.A. 2019 gross domestic product. Overbuilding the solar plus wind capacity by 18% reduces overall costs by 17% by reducing battery storage costs. Allowing fossil fuels with carbon capture and storage to provide 60% of the electricity demand dramatically reduces the total costs from US$290 trillion to US$20.5 trillion, which is a reduction of 92.9%. Battery storage costs are highly dependent on the year’s weather and the seasonal shape of electricity demand.
by P. Gosselin, January 20, 2018 in NoTricksZone
It has long been dawning on most people that the costs of Germany’s Energiewende (transition to green energies) have been spectacularly underestimated. As Germany rushes into its foray with renewable energies, principally wind and sun, we are finding out that many of the costs involved were never taken into account.
by Steve Austin, July 26, 2017 in Oil-Price.Net
US wins, Middle East loses
While US scores with increased rig count and production, the oil industry in the Middle-East is festering with under investment. Said to be in trillions, the lack of investment could boomerang as supply deficit within a decade. Let’s not forget that oil exploration is a long term development in which a decade is but short. Why are the investors moving away?
by NY Times, July 13, 2017 in WUWT
The level of renewable use is now so high in Germany that serious electric grid reliability and stability issues now exist which require both fossil power plant emergency backup for failed renewable production and dictate rejecting renewable energy to ensure operation of fossil plants required for electric grid reliability and stability.
by Dennis T. Avery, June 30, 2017 in ClimateChangeDispatch
Statistician Bjorn Lomborg had already pointed out that the Paris CO2 emission promises would cost $100 trillion dollars that no one has, and make only a 0.05-degree difference in Earth’s 2100 AD temperature. Others say perhaps a 0.2 degree C (0.3 degrees F) difference, and even that would hold only in the highly unlikely event that all parties actually kept their voluntary pledges.
by Anthony Watts, May 30, 2017 in WUWT
From the UNIVERSITY OF SUSSEX and overheated climate science department, comes a claim that just doesn’t seem plausible, suggesting that in the future, nearly 11% of a “worst-off city” gross domestic product would be consumed by UHI boosted climate change. On the other hand, the study is by Dr. Richard Tol, who is well respected by the climate skeptic community. He does have a point about “the effects of uncontrolled urban heat islands”
Overheated cities face climate change costs at least twice as big as the rest of the world because of the ‘urban heat island’ effect, new research shows.
by Ian Aitken, May 28, 2017
The eminent scientist Stephen Koonin has stated that, ‘Today’s best estimate of the sensitivity [of the atmosphere to the addition of carbon dioxide]… is no different, and no more certain, than it was 30 years ago. And this is despite an heroic research effort costing billions of dollars.’
by Virginia Tech, April 20, 2017 in ScienceDaily
The 2010 BP Deepwater Horizon oil spill did $17.2 billion in damage to the natural resources in the Gulf of Mexico, a team of scientists recently found after a six-year study of the impact of the largest oil spill in US history.
This is the first comprehensive appraisal of the financial value of the natural resources damaged by the 134-million-gallon spill.