This Yglesias piece in the NYT is horrifically bad.
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39. Moreover, wholesale power markets include variable time of use rates and in some cases capacity payments to pay a premium to sources that can ramp up on a moments notice. Here is a list of what PJM used last year (% is the likelihood that the given source would be there when called.)
40. So yes, we have a grid with lots of stuff. The most reliable backup in that PJM analysis was nuclear and load sited demand reduction. Diesel gen sets. Pumped hydro. Battery storage is a big deal and a bigger one as costs fall and longer durations are available. Gas peakers too.
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40. So yes, we have a grid with lots of stuff. The most reliable backup in that PJM analysis was nuclear and load sited demand reduction. Diesel gen sets. Pumped hydro. Battery storage is a big deal and a bigger one as costs fall and longer durations are available. Gas peakers too.
41. Not shown here, but also a big deal is transmission to connect different parts of the system so that the wind in Iowa can power Chicago, or the sun in Florida, or the geothermal in Nevada, or the hydro in Oregon, etc.
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41. Not shown here, but also a big deal is transmission to connect different parts of the system so that the wind in Iowa can power Chicago, or the sun in Florida, or the geothermal in Nevada, or the hydro in Oregon, etc.
42. Point is, markets and existing regulatory structures also know that no source is available 24/7/365 and manage the grid accordingly. They don't learn anything from Yglesias insight about nighttime and you didn't either.
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42. Point is, markets and existing regulatory structures also know that no source is available 24/7/365 and manage the grid accordingly. They don't learn anything from Yglesias insight about nighttime and you didn't either.
43. If you're still reading at #43... thanks, I guess? But also this. :) Anyway, a final thought to wrap up. https://youtu.be/QbJelY1kZNU?si=h7B3Upg3Y2h9qfGQ
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43. If you're still reading at #43... thanks, I guess? But also this. :) Anyway, a final thought to wrap up. https://youtu.be/QbJelY1kZNU?si=h7B3Upg3Y2h9qfGQ
44. I've spent my entire adult career in the energy industry. As a consultant, as a manufacturer, as a power plant developer/owner/operator and now as a legislator. There is something really optimistic about the moment we're in that pundits like Yglesias said was impossible 20 yrs ago.
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44. I've spent my entire adult career in the energy industry. As a consultant, as a manufacturer, as a power plant developer/owner/operator and now as a legislator. There is something really optimistic about the moment we're in that pundits like Yglesias said was impossible 20 yrs ago.
45. Specifically, we've decoupled economic growth from fossil energy consumption. Coal demand has collapsed. Oil use is flat. Natural gas use is growing but < GDP, even as standards of living have gone up. That's happened because of higher efficiency and decarbonization.
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45. Specifically, we've decoupled economic growth from fossil energy consumption. Coal demand has collapsed. Oil use is flat. Natural gas use is growing but < GDP, even as standards of living have gone up. That's happened because of higher efficiency and decarbonization.
46. We are, in a word, investing in energy productivity, getting more economic value out of less input. That is great news, for the same reason that higher returns on capital are good or increases in labor productivity good. Make more useful stuff with less input and we all get richer.
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46. We are, in a word, investing in energy productivity, getting more economic value out of less input. That is great news, for the same reason that higher returns on capital are good or increases in labor productivity good. Make more useful stuff with less input and we all get richer.
47. As Amory Lovins has said for years, no one wants a lump of coal, or a barrel of oil. All we want is a hot shower and a cold beer. And if we can get that heat and light and chilling without paying for (or burning) fuel, we're all happier... with one notable exception.
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47. As Amory Lovins has said for years, no one wants a lump of coal, or a barrel of oil. All we want is a hot shower and a cold beer. And if we can get that heat and light and chilling without paying for (or burning) fuel, we're all happier... with one notable exception.
48. That exception of course is the fossil fuel producer. They are hostile to energy productivity for the same reason John Henry didn't like the steam shovel. They can't compete with it. Wins for consumers come at their expense. Wins for the climate come at their expense.
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48. That exception of course is the fossil fuel producer. They are hostile to energy productivity for the same reason John Henry didn't like the steam shovel. They can't compete with it. Wins for consumers come at their expense. Wins for the climate come at their expense.
49. The game isn't over by far. But make no mistake: we are winning. That's something to be proud of. It's something to accelerate. It's nothing to take for granted. And it's certainly no time to take Yglesias' advice and fumble the ball so the other team won't feel so sad. /fin
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