Greedy Green Hubris gone wrong? It took months of bad choices to achieve this Gold-Star Moment in Bad Management:
Tasmania’s state-owned Hydro-electric power generator could face legal action for damages after admitting it cloud-seeded in or near water catchments the day before disastrous flooding, although heavy rain was forecast.
Tasmania shut their only fossil fuel power plant in August last year, and relied on renewable energy and one sole Basslink electricity cable to mainland Australia. The cable was supposed to be a back up supply but was bringing in 40% of Tasmania’s electricity, and it broke in December. But a green and greedy approach in Tasmania meant that the state had already run its dams down to 26% levels by selling too much electricity to the mainland at high “renewable” subsidized prices. That was a low level at the start of summer, normally a drier season in Tasmania. After the Basslink cable broke, the dam levels fell to a precipitous 13%, so fast that the green state had to bring in diesel generators just to keep the lights on. They also switched back on the Tamar Gas plant in late January. So much for being the “100% [...]
In June this year the UNEP report announced that Global Renewable Energy investment reached $257 Billion in 2011. It’s so large it rivals the $302 billion invested in fossil fuel power. But how much electricity do we get for all that money? When the details are pulled from the fog, a quarter of a trillion dollars appears to produce only about 3% of all our global electricity, and even less of our global energy. All that money, so few gigawatts.
The 2012 UNEP report “Global Trends in Renewable Energy Investment” compares the
“…despite an increasingly tough competitive landscape for manufacturers, total investment in renewable power and fuels last year increased by 17% to a record $257 billion, a six-fold increase on the 2004 figure and 94% higher than the total in 2007, the year before the world financial crisis.”
Renewables growth has slowed somewhat:
“Although last year’s 17% increase was significantly smaller than the 37% growth recorded in 2010, it was achieved at a time of rapidly falling prices for renewable energy equipment and severe pressure on fiscal budgets in the developed world.”
The last couple of quarters have not been good for [...]