by Karl Denninger
Market-Ticker.org
But Global Warming is real and even CHINA has agreed to be carbon-neutral in the next 40 years!
Including decommissions, China’s coal-fired fleet capacity rose by a net 29.8 GW in 2020, even as the rest of the world made cuts of 17.2 GW, according to research released on Wednesday by Global Energy Monitor (GEM), a U.S. think tank, and the Helsinki-based Centre for Research on Energy and Clean Air (CREA).
They have roughly 250GW of additional capacity under construction and last year added more than 35GW of new approvals.
The rest of the world has, on balance, decreased coal-fired energy output.
Unfortunately with the exception of hydroelectric, which is a renewable source, so-called “green energy” is not reliable. Base load generation must be reliable and peak load generation must be dispatchable when needed in each and every case. If it’s cost-effective to use renewable sources for “fill” while the others remain available that’s fine, but it almost-never is.