Tuesday, October 29, 2019

Energy Supply Terminology

Apparently there is something magic about 'baseload' which means only coal can supply it. The word just means a steady reliable supply of power. Just as "dispatchable" means supply that can be turned on and off at need. Coal is certainly steady and reliable, but not really dispatchable as it can take hours or days to turn up or down. Gas is dispatchable but to expensive to use as baseload. The wholesale price of electricity is controlled by the highest cost and that is gas. Wind and solar, on their own, are neither dispatchable nor baseload. I don't think there is any disagreement on that point - even though it keeps being brought up again and again. The game changer here is storage. There are about 20 different ways power can be stored, from batteries, to pumped hydro, to molten salt, to hydrogen production. Most can be varied in under a second, being much more dispatchable than gas. The output can be finely controlled making them more steady than coal. With multiple different storage methods working together, it is also more reliable since there is no single point of failure. With storage, wind and solar, are the most stable, dispatchable and cheapest forms of energy available in the world. Recent work economists at RMIT show that solar with storage is cheaper (and easier) to build than new coal and wind farms are even better. The only downside is how long it will take to transition - but that is still quicker than building a new coal plant. So in what way is the obsolete technology better?

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