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Report: Investments in Coal Risky, Billions in Assets Could Be Stranded

October 31, 2018

A study from a London-based group focused on financial aspects of the energy industry said up to $ 60 billion of coal-fired power generation assets may be stranded in Southeast Asia in the next 10 years. The study released this week by Carbon Tracker said renewable energy resources and more-stringent environmental policies make investments in new coal generation “a mistake.”

The study was released on the heels of a report last week from the Institute for Energy Economics and Financial Analysis (IEEFA), a Cleveland, Ohio-based clean energy group, that said the U.S. will retire 15.4 GW of coal capacity in 2018, which it said represents 44 coal-fired generation units at 22 power plants. The group said another 21.4 GW of coal generation will close by 2024.

The IEEFA report said the U.S. is still operating 246 GW of coal generation capacity, with announced retirements from 2018 through 2024 (Figure 1) representing about 15% of that total. It said coal plants in at least 14 states are scheduled to close over the next few years, including units in Ohio, Pennsylvania, Florida, Indiana, Minnesota, Missouri, Kansas, Kentucky, Maryland, Tennessee, Texas, Virginia, West Virginia, and Wisconsin, according to IEEFA.…

Report: 10% of U.S. Coal Mined in 1H2018 Went to Plants Scheduled to Retire

September 8, 2018

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More than 10% of the coal mined from eight U.S. regions in the first half of 2018 was sent to coal plants scheduled for retirement between this year and 2032, according to a report from S&P Global Market Intelligence. The trend is another troubling sign for the struggling coal industry.

The analysis released September 7 comes two weeks after the Trump administration announced changes to emissions regulations in an effort to allow coal-fired plants to run longer. The administration has made helping the coal industry a priority, citing coal generation’s importance to national security.

The report also said that more than 6% of the coal mined in the United States in 2017 was delivered to power plants that are scheduled for closure over the next decade. The information comes from an S&P Global Market Intelligence analysis of coal production and fuel delivery data.

S&P said just more than 330 million tons of coal was produced by U.S. basins in the first six months of this year, and at least 33.6 million tons went to plants that are scheduled to be shuttered by 2032.…

Report: Human Error to Blame in Fatal India Plant Accident

July 23, 2018

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An internal report from NTPC said an “error in judgment” by plant operators led to an explosion at India’s Feroze Gandhi Unchahar Thermal Power Station last year that resulted in the deaths of 45 workers.

Reuters news service on July 23 said it had reviewed a summary of the report on the accident that occurred November 1, 2017. It said three department heads at the 1,550-MW coal-fired plant decided not to shut down a 500-MW boiler at the plant to clear ash that had built up in the unit. The buildup caused the unit to over-pressurize, which caused an explosion that released hot gas, killing several workers instantly. Others died in the days after the accident, which left survivors with severe burns.

India’s Power Ministry in the week after the accident established a committee to investigate the explosion.

Asian News International in November, in a post on its Facebook page, presented a video taken by a worker using a mobile phone after the accident.…

Report Says More Nuclear Plants in Financial Trouble

May 15, 2018

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A report from Bloomberg New Energy Finance (BNEF) says the financial struggles of U.S. nuclear power plants continue to increase, and it is likely more plants will be faced with early retirement. It’s another acknowledgement of the tough operating environment for nuclear facilities as gas-fired and renewable energy sources continue to grab more power generation market share in an era of lower electricity costs and slowing demand for electricity.

Nicholas Steckler, an analyst with BNEF, on May 15 said 24 of the more than 60 U.S. operating nuclear power plants are either set to close or will not be able to cover their operating costs through 2021. Steckler wrote in his report that those sites have total generation capacity of 32.5 MW, which is nearly a third of the nation’s total nuclear nameplate generation capacity of just above 100 MW, according to the U.S. Energy Information Administration.

A 2016 POWER magazine report detailed the nuclear retirement picture at that time, and several more units have announced plans for premature closures over the past several months.…

Report: Clean Energy Investments Hit $333.5 Billion in 2017

January 18, 2018

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Though some countries, including the U.S., have moved to support coal-fired power generation over the past year, investments in renewable energy continued to rise, according to a new report from Bloomberg New Energy Finance (BNEF).

The research group on January 16 said global investment in clean energy such as wind and solar reached about $ 333.5 billion in 2017, a 3% rise from the prior year, and just 7% below the record in 2015. BNEF said about half of all investment went to solar projects, with China accounting for nearly $ 133 billion—or about 40%—of the total investment in renewables. China’s total is 24% more than it spent in 2016, according to BNEF.

The report said two dozen countries invested more than $ 1 billion in clean energy initiatives in 2017. It noted that the falling costs of equipment such as wind turbines and solar panels has opened new markets, and is bringing electrification to areas—particularly in developing countries—where there is limited access to a transmission grid.…

Report: Killing Clean Power Plan Could Cost Nation 560,000 Potential Jobs

June 23, 2017

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If the Trump administration’s efforts to roll back the Clean Power Plan (CPP) are successful, the nation could miss out on 560,000 potential jobs and a boost of $ 52 billion to the gross domestic product (GDP), according to a report released by Environmental Entrepreneurs (E2).

“From states with relatively small populations like Maine and Montana to highly populated states like Florida, the CPP could have substantial employment and economic benefits — benefits that would disappear with the Trump Administration’s repeal of the policy,” the June 21 report says.

The CPP has been a thorn in the side of coal proponents since it was proposed in 2014. The rule requires states to develop action plans to meet state-specific, federally-set carbon emissions reduction goals for existing coal-fired power plants.

According to the E2 report, implementation of the CPP would result in the creation of up to 560,000 jobs and add up to $ 52 billion to the nation’s GDP. Those benefits will be lost if the rule is weakened or rescinded, the report says.…