logo
Wood Mackenzie sees extended ‘sunset' for costly coal power

Wood Mackenzie sees extended ‘sunset' for costly coal power

Yahoo3 days ago
This story was originally published on Utility Dive. To receive daily news and insights, subscribe to our free daily Utility Dive newsletter.
Dive Brief:
Rising electricity demand and a slowdown in the buildout of alternative sources of power generation could extend the use of coal globally and displace 2,100 GW of gas and renewables by 2050, Wood Mackenzie said in a report earlier this month.
Under a high demand scenario, coal-fired power generation could peak in 2030, four years later than the analysis' 'base case' forecast.
The economics and politics of coal are strongest in Asia. In the United States, coal is more expensive than gas or solar and storage, but the cost of building new gas power plants has nearly doubled and long-duration energy storage technology is not yet mature enough to convert solar and wind into true 'baseload' resources, the report said.
Dive Insight:
In Asia, national security concerns and economics favor coal for now, said Anthony Knutson, global head of thermal coal markets at Wood Mackenzie, although when it comes to just levelized cost, hybrid solar and storage remain cheaper than coal or gas.
'While the long-term trajectory towards renewables remains intact, the path is proving far more complex than many anticipated as countries grapple with energy security and affordability concerns,' Knutson said in a statement.
Wood Mackenzie expects the levelized cost of unabated coal-fired power in the Asia and Pacific region to remain below $100/MWh in 2030, lower than the expected levelized cost of gas-fired power there.
Coal-fueled power in the United States will cost about $230/MWh in the United States and about $270/MWh in Europe in 2030, according to the report. By then, gas-fired power will cost about $100/MWh in the United States and about $150/MWh in Europe, it said.
Hybrid solar and storage will undercut coal and gas in all three regions, coming in around $60/MWh in Asia, $70/MWh in Europe and $80/MWh in the United States.
Though the economics of gas-fired generation are more favorable in the U.S. than in Asian and European countries that rely on liquefied natural gas imports, its ability to match surging AI load growth forecasts is limited, the report said. While long-duration energy storage technology has advanced significantly in recent years, it cannot provide baseload power yet, it said.
It's also becoming more expensive to replace aging coal plants with gas and renewables, causing 'sticker shock' for power producers looking to make the switch, the report said. It blamed tariffs, reshoring of production and infrastructure delays for pushing up the cost of new solar while noting a near-doubling of U.S. costs for new gas power plant builds.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

DJI couldn't confirm or deny it disguised this drone to evade a US ban
DJI couldn't confirm or deny it disguised this drone to evade a US ban

The Verge

time4 minutes ago

  • The Verge

DJI couldn't confirm or deny it disguised this drone to evade a US ban

DJI barely sells drones in the United States anymore. The shelves are bare; resellers are jacking up prices. It appears an unofficial ban at US customs is to blame. But on Amazon, you can now buy a drone that's a a dead ringer for the DJI Mini 4 Pro — the SkyRover X1 — for a reasonable $758. And that's probably because DJI made it happen. There's evidence suggesting so, and DJI was not able to immediately deny the SkyRover X1 was a DJI product when we reached out. As reported by DroneXL, security researchers have discovered the SkyRover X1 not only has the same specs, features, and an incredibly similar app to the one DJI provides for its drones, it uses DJI's own online infrastructure. 'It has connections to @DJIGlobal @DJISupport @DJIEnterprise via @DJIFlySafe references, and 'AASKY' references,' tweeted Kevin Finisterre, a hacker who's made headlines for digging into DJI's products in the past. Finisterre was even able to log in with his DJI username and password. Another security consultant, Jon Sawyer, discovered the SkyRover app even uses the same encryption keys as DJI, and that the company which created the app only did a rudimentary job of trying to hide its tracks, renaming instances of 'DJI' to 'xxx' or 'uav.' But that's not the only shady thing going on: someone doesn't want you to know this drone is a DJI-alike. After drone reviewer AirPhotography took flak in the comments of his SkyRover X1 review for not pointing out obvious similarities to DJI, he revealed that he had agreed not to mention any other drone brands in the video. 'That was their only stipulation,' he wrote. AirPhotography has since thought better of this, it seems; he now has an extra video that directly compares to the Mini 4 Pro, calling it 'suspiciously similar.' Note that the drone isn't exactly the same. AirPhotography says there are slight differences with the camera, and he told viewers that the SkyRover won't fit existing DJI batteries and won't connect to existing DJI controllers. We gave DJI a full day to confirm or deny whether the SkyRover X1 is a DJI product, but the company was not able to meet that deadline. 'I'm still looking into this with our headquarters team,' spokesperson Regina Lin tells The Verge. If the SkyRover X1 is created or licensed by DJI, it wouldn't be the first time. US lawmakers are already aware — and some are annoyed — that DJI found a seeming loophole by finding a US company, Anzu Robotics, to manufacture a Mavic 3 clone called the Raptor, and a Hong Kong one, Cogito, for the Specta and Specta Mini clones. The SkyRover X1 seems to be made by SZ Knowact in Malaysia, according to FCC filings. Malaysia is currently a popular destination for Chinese companies to escape the worst of US tariffs, though it too may have a higher rate in August. The SkyRover app lists SZ Knowact as its developer in Apple's App Store, and as Konrad Iturbe shows, its website is nearly identical to the one that Cogito provides for its own DJI clones. The US government has yet to formally ban DJI drones, but a de facto ban will happen automatically by December if 'an appropriate national security agency' doesn't publicly declare that its products do not 'pose an unacceptable risk to the national security of the United States.' The US Commerce Department finally opened an investigation to figure that out on July 1st. Here's my interview with DJI about what will happen if the ban goes through. In the meanwhile, DJI has stated that US Customs is blocking many of its drones from entering the United States. US Customs and Border Protection will not deny this: we've repeatedly asked, but the agency claims it's not allowed to say even that. Here's a statement via CBP spokesperson Trish Driscoll: CBP is not authorized to disclose specific company or commodity information pursuant to various federal laws and internal policies including but not limited to the Trade Secrets Act (18 USC 1905), and certain information that may be responsive to your request may also be deemed to be law enforcement sensitive information, which CBP will not disclose. This response ensures the confidentiality of proprietary trade information and law enforcement sensitive information, which in turn preserves commercial privacy and trust in CBP handling of sensitive information. Posts from this author will be added to your daily email digest and your homepage feed. See All by Sean Hollister Posts from this topic will be added to your daily email digest and your homepage feed. See All Drones Posts from this topic will be added to your daily email digest and your homepage feed. See All Report Posts from this topic will be added to your daily email digest and your homepage feed. See All Tech

India Trade Pact Nears, US Beef Floods In--What Investors Should Watch Next
India Trade Pact Nears, US Beef Floods In--What Investors Should Watch Next

Yahoo

time32 minutes ago

  • Yahoo

India Trade Pact Nears, US Beef Floods In--What Investors Should Watch Next

Australia may be on the brink of deepening its trade ties with India, according to Trade Minister Don Farrell, who suggested a broader free trade deal could have been inked months ago if not for a timing clash with the May election. Speaking at the Lowy Institute, Farrell hinted that the delay was procedural, not political, and noted that his Indian counterpart is currently focused on high-stakes tariff talks with President Donald Trump's administration. The existing FTAsigned back in April 2022cut tariffs across most sectors, but left out sensitive Australian exports like chickpeas, dairy, and wheat. Farrell expects those gaps could be closed bit by bit, as part of a multi-stage rollout. Warning! GuruFocus has detected 7 Warning Signs with TSN. That optimism is surfacing just as India finalizes a major agreement with the UK and bilateral trade with Australia hits nearly A$50 billion ($32.9 billion) in 2023. Farrell said the structure of a final deal with India is likely to be incremental, owing to political realities on both sides. Still, with Canberra actively seeking to diversify away from Chinaits top trading partnera more comprehensive agreement with India could be a meaningful next step. For investors eyeing agri-exporters, particularly in grains and dairy, the next phase of negotiations could shape longer-term access to one of the world's fastest-growing consumer markets. In a separate move with potential ripple effects, Australia just lifted all remaining restrictions on US beef importsa long-standing ask from the Trump administration. The announcement triggered a celebratory post from President Trump on TruthSocial, but Farrell was quick to tamp down the political narrative, stating the decision was based on science and years of internal review. We haven't done this to win favorwe think the Americans should trade with us anyway, he said. Whether this opens the door to a broader trade pact with the US remains to be seen, but the development is unlikely to go unnoticed by investors in US meat giants like Tyson Foods (NYSE:TSN) or Brazil's JBS, both of which could stand to benefit from expanded market access. This article first appeared on GuruFocus.

Bitcoin Just Flashed a $5 Million Warning--Here's What Traders Are Betting on Next
Bitcoin Just Flashed a $5 Million Warning--Here's What Traders Are Betting on Next

Yahoo

time32 minutes ago

  • Yahoo

Bitcoin Just Flashed a $5 Million Warning--Here's What Traders Are Betting on Next

Bitcoin (BTC-USD) lost momentum on Friday, dropping to $114,762its lowest since July 11as investor appetite for risk assets softened. The pullback followed stronger-than-expected U.S. jobs data, which dented hopes for near-term Fed rate cuts. After hitting a record high of $123,205 earlier this month, fueled by optimism around U.S. regulation and institutional inflows, Bitcoin's rally has taken a breather. Ether traded flat, and XRP slipped roughly 3% in early New York hours. Rachael Lucas, crypto analyst at BTC Markets, noted that while the broader uptrend could still be intact, momentum has cooled and traders are cautious. Warning! GuruFocus has detected 7 Warning Signs with TSN. Some market watchers see the retreat as part of a broader consolidation phase rather than a breakdown. According to FxPro's Alex Kuptsikevich, the correction is healthy and necessary after recent highs. Even if the total crypto market cap falls back to $3.4 trilliondown from the $4 trillion peakit would still likely be viewed as profit-taking, not panic selling. That level remains a key threshold to watch for longer-term trend direction. The jobs data also ended a seven-day Asian equities rally, underscoring just how sensitive risk assets have become to shifting macro signals. Meanwhile, the derivatives market is flashing signs of rising caution. Prime broker FalconX reported a $5 million put option trade on Deribit, betting on Bitcoin falling to $110,000 by August 8. It's a notable hedge that reflects growing two-way risk. We expect to see further consolidation while Bitcoin remains below monthly trendline resistance, currently at around $125,000, said Tony Sycamore of IG Australia. That same level capped Bitcoin's last breakout attemptadding to the technical ceiling traders are watching as the next test of market conviction. This article first appeared on GuruFocus.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store