329 U.S. Coal Units Are No Longer Cost-Effective
Source: ThinkProgress
BY JEFF SPROSS ON DECEMBER 10, 2013 AT 1:30 PM
Aging and inefficient plants, competing energy sources, and the looming reality of climate change are all catching up with the coal industry.
According to a new report from the Union of Concerned Scientists — updated from 2012 numbers — as much as 17 percent of coal-fired power in the United States is already uncompetitive, just compared to natural gas and using mid-range estimates.
The report looked at the operating costs for current coal plants, which are older and have largely paid off their capital costs, up against natural gas plants that have also paid off their capital costs. The operating costs also included all the necessary upgrades to bring the coal plants in line with pollution and carbon dioxide regulations. That yielded 329 coal units that are economically uncompetitive, or a total of 59 gigawatts of electricity-generating capacity — 17 percent of the 347 gigawatts of coal power throughout the United States.
That number of uneconomic coal units could also get considerably larger depending on what the future holds. If a price of $20 per ton of carbon dioxide emissions were to be put in place, 131 gigawatts would be uncompetitive. If the production tax credit (PTC) for wind energy is preserved, 71 gigawatts of current coal capacity will be uncompetitive by comparison, versus just 22 gigawatts if the PTC is allowed to expire.
Read more: http://thinkprogress.org/climate/2013/12/10/3044961/coal-uncompetitive/
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and don't forget subsidies. Can't fall behind in dinosaur technology or affect corporate profits 