Friday , May 3 2024
Home / Mike Norman Economics / How Sen. Manchin just Positioned Chinese Firms to dominate the Green Energy Markets of the 21st Century, Leaving the US in the Dust — Juan Cole

How Sen. Manchin just Positioned Chinese Firms to dominate the Green Energy Markets of the 21st Century, Leaving the US in the Dust — Juan Cole

Summary:
By 2025, unsubsidized solar power with battery storage everywhere in China will be cheaper than coal. Indeed, solar plus battery is already cheaper than coal in 3/4s of the country. Especially given drops in the cost of battery storage, the paper concludes that China can get 43% of its total power from solar at less than 2.5 cents a kilowatt hour by 2060, making the Communist Party’s current plans for decarbonization by then plausible. Coal is usually figured at 5 cents a kilowatt hour, and solar plus battery is already less than that.Numbers.Informed CommentHow Sen. Manchin just Positioned Chinese Firms to dominate the Green Energy Markets of the 21st Century, Leaving the US in the DustJuan ColeSee alsoWSWSBiden accepts shredding of his social welfare/climate billBarry Grey

Topics:
Mike Norman considers the following as important:

This could be interesting, too:

NewDealdemocrat writes The snooze-a-than in jobless claims continues; what I am looking for in tomorrow’s jobs report

Bill Haskell writes Monthly payments could get thousands of homeless people off the streets

Angry Bear writes A Doctor at Cigna Said Her Bosses Pressured Her to Review Patients’ Cases Too Quickly

Steve Roth writes How Did Under-40s Get So Much Richer During Covid?

By 2025, unsubsidized solar power with battery storage everywhere in China will be cheaper than coal. Indeed, solar plus battery is already cheaper than coal in 3/4s of the country. Especially given drops in the cost of battery storage, the paper concludes that China can get 43% of its total power from solar at less than 2.5 cents a kilowatt hour by 2060, making the Communist Party’s current plans for decarbonization by then plausible. Coal is usually figured at 5 cents a kilowatt hour, and solar plus battery is already less than that.
Numbers.

Informed Comment
How Sen. Manchin just Positioned Chinese Firms to dominate the Green Energy Markets of the 21st Century, Leaving the US in the Dust
Juan Cole


See also

WSWS
Biden accepts shredding of his social welfare/climate bill
Barry Grey



Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

Leave a Reply

Your email address will not be published. Required fields are marked *