gmax137 said:
Most people will continue to act in their own short-term interests (same as it ever was).
Indeed.
But let's get concrete. The government is transitioning to renewables in Australia and moving away from coal. Gas is seen as an intermediate technology. The problem is that they promised to reduce electricity bills by $275 per household, and Australia would become a renewable energy superpower. It failed on both counts, even though many engineers predicted it. Of course, they produced papers from the CSIRO supporting their policies, but many think they are flawed. The article I wanted to link to is behind a paywall, so a precis follows.
Start of Precis
Renewable energy advocates have seized on a new report by the CSIRO that nuclear energy is financially unviable in Australia. The analysis asserts that wind and solar are the lowest-cost new-build electricity generation in Australia, significantly below the price of nuclear power. This is a significant finding given that Australia is gambling its traditional energy security on 82 per cent of its power generation coming from renewables by 2030, which seems unlikely to be achieved. The upfront cost of a nuclear power plant is expensive. The CSIRO estimates the capital cost of a large-scale nuclear plant in Australia is $8655 per kilowatt, equating to about $8.6 billion for a one-gigawatt reactor. This is expensive but fails to provide a fair apples-with-apples comparison between nuclear and renewables.
Nuclear lasts at least 80 years, not 30. Nuclear power plants provide always-on power for more than 80 years. Solar panels last about 30 years. Wind turbines last 25 years. Batteries last 15 years. After these expire, billions of dollars must be spent – again – on replacements. Hence, the cost of energy sources should be benchmarked over a “like for like” whole-of-life period of 80 years for nuclear. The CSIRO says it uses 30 years because it is the time commercial finance is usually available before repayment is required. Modern nuclear plants overseas run at over 90% of their capacity - not the 53%-89% assumed in the report. The costs of nuclear are low after the upfront build, so they run near full throttle. Finally, the CSIRO uses the levelised cost of electricity (LCOE) to compare the competitiveness of power generation technologies. But it underplays the advantage of always-on, dispatchable power, such as nuclear, over mainly off, intermittent wind and solar generation. This is misleading.
The LCOE should be calculated on a reliability-equal, whole-of-life-basis. Solar power is fully on about 20-25 per cent of the 24-hour day and off about 75-80 per cent of the day. Wind power is fully on 30 per cent of the day and off 70 per cent. The CSIRO attempts to adjust for the unreliability of renewables in its LCOE estimates by including costs of storage, transmission and firming. But the assumptions underpinning the renewable integration costs are murky because the CSIRO says it doesn’t want to release modelling that could contradict the Australian Energy Market Operator’s integrated system plan. The CSIRO admits that LCOE is a simple screening tool and is not a substitute for detailed project cash-flow analysis or electricity system modelling which provides more realistic estimation of costs. It says nothing about the revenue side of the commercial equation: what prices can the generator earn on the wholesale market and, given their costs, what profits can be earned? For the 60 to 80 per cent of the time when intermittent power cannot be supplied at any price, its economic cost can be considered infinite.
A renewable energy audit is required that includes: the direct cost of subsidies; the system-wide costs – including transmission, storage and back-up dispatchable power including the cost of subsidies to keep coal-fired power stations operating; the economic, social and environmental losses wind, solar and new transmission lines are inflicting on farmers and others living in regional communities; and the welfare costs of a more volatile and less reliable grid.
End of Precis
I give the above analysis not in support of it (although in the interests of full disclosure I agree with it), but to show we must design a low carbon system using engineers and engineering economists and seriously debate their proposals. IMHO consumers are just acting rationally, and those making decisions must, and it has become extremely urgent, understand all the consequences of their proposals when subjected to scrutiny. I see that as the main issue, rather than people being short-sighted, which is only natural. We have the technology to address carbon emissions and people's natural tendency to be more concerned about immediate issues, such as rising energy prices, IMHO. I believe televised debates with experts can change the current situation and have Australia on a better path (whatever that is).
Thanks
Bill