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Disclaimer. After nearly 40 years managing money for some of the largest life offices and investment managers in the world, I think I have something to offer. But I can't by law give you advice, and I do make mistakes. Remember: the unexpected sometimes happens. Oddly enough, the expected does too, but all too often it takes longer than you thought it would, or on the other hand happens more quickly than you expected. The Goddess of Markets punishes (eventually) greed, folly, laziness and arrogance. No matter how many years you've served Her. Take care. Be humble. And don't blame me.

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Wednesday, July 30, 2014

No excuse not to switch

Denmark has just reported that its wind power is cheaper than new coal-fired power stations.

For according to a recent report from the government of Denmark, new wind power coming online in 2016 will cost half that of energy now provided from current coal and natural gas based power plants. The net price would be equal to 5.4 cents (US) per kilowatt hour.

Half!  Wow.  For your info, in Victoria, retail electricity costs 29 c per kWh, and the feed-in tariff for surplus solar (or wind) is just 8 cents per kWh. In the US (Texas, for example) electricity costs around 11 c per kWh.

Note that this ignores the cost of carbon pollution and also excludes subsidies to wind.

The image below is fascinating chiefly because of the scale.  Note the workman inside the turbine.

A GE wind turbine with built in battery storage.  Source SmartPlanet

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