Roaming around the internet this afternoon and found this. From the Houston Chronicle. I wasn't looking for it, but it is pertinent in our previous discussion. Interesting article, the takeaway is don't invest in coal stocks ;-)
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The fossil fuel that powered the industrial revolution may no longer have a future in the
country’s energy mix, according to new research.
The country’s coal-fired electricity generation capacity is expected to be halved in the next three years from its 2011 peak, according to a new report from the Cleveland-based nonprofit Institute for Energy Economics and Financial Analysis. The research, based on utilities's announced plans to shut down or reduce the use of coal plants, finds capacity will drop to 159,000 megawatts in 2026 from the 2011 peak of 318,000 megawatts.
“And coal generation may continue to fall faster, as aging units face higher operation and maintenance costs,” Seth Feaster, report author and energy data analyst with the Institute, said in the report, “and utilities increasingly favor the responsiveness of gas generation and battery storage to complement the variable output from solar and wind, both of which continue to be built at a rapid clip.”
The shift to generate electricity by natural gas, wind, and solar energy comes as the U.S. works to meet emission reduction targets in an effort to combat the most catastrophic impacts from climate change. Electricity generation accounts for about
25 percent of greenhouse gas emissions in the country, according to the Environmental Protection Agency, and lowering emissions in the power sector has long been seen as vital for reaching climate targets.
Data from the U.S. Department of Energy shows Texas leads the nation in both energy production and consumption and in 2021 the state burned more than 60 million tons of coal to fire electric generation plants, according to the report. That’s more than any other state and accounted for 12 percent of coal used by the electricity sector that year.
Even so, as power demand soared in Texas last year to nearly 10 percent more than the previous year, the Institute’s report found coal generation went down over 4 percent in 2022.
“I think a lot of people have an outdated notion that coal power plants provide baseload power – that they run steady all the time,” Daniel Cohan, associate professor of civil and environmental engineering at Rice University, said. “And that's just not been the case for years.”
Cohan said the average output of coal power plants nationwide has fallen below half of their potential output.
“The plants that aren't closing are having a hard time competing with cheaper gas and wind and solar,” he said. “Plus, most of our remaining coal plants are over 40 years old, so they're breaking down more than they used to.”
RELATED: Coal and natural gas give way as renewable power generation grows in Texas
There are no announced plans to build a new coal-fired power plant in the U.S., and the IEEFA report shows that fewer than 200 large-scale coal-fired plants remain without announced retirement dates.
One of those plants sits about 30 miles southwest of downtown Houston in Fort Bend County.
Houston-based NRG Energy's WA Parish Plant has four coal-fired units able to generate 2,514 megawatts of power — one megawatt can power about 200 Texas homes on a hot summer day, according to the state's grid operator. A spokesperson for the company said it had no plans to close the facility.
Cohan at Rice University said plants like WA Parish will become more and more of an anomaly as power producers look to cut costs while slashing emissions. He pointed out that while coal is providing less power to Texans, it’s still the main source of sulfur pollution in the air.
As the Environmental Protection Agency works to tighten its standards, including the “good neighbor” rule taking effect in May that restricts emissions from power plants, Cohan said it could speed up the closure of coal plants.
“These ongoing closures of coal plants across the state and across the country are a breath of fresh air,” he said. “It's taking away the most polluting and deadliest form of electricity – but we’re still not seeing moves to close the biggest source of power plant pollution in the Houston region.”
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Best Regards,
Mike/Florida