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In theory, economics is pretty simple stuff. If Farmer A is selling apples 4 for a dollar and Farmer B is selling them 5 for a dollar, who you gonna call when you need apples? Farmer B, of course. You’d be crazy to pay more for apples than you need to, especially if you hope to resell them and become the Jeff Bezos of the apple world.

Now imagine you are a native of India and want to supply electricity to the teeming masses. You can either build coal-fired generating stations that cost more to operate or build renewable energy resources like solar and wind farms that cost less to operate. Once again, you’d be crazy to select the more expensive option, but that is just what India plans to do? Why? Because coal is like a religion and common sense rarely applies to theological discussions.

The Institute For Energy Economics And Financial Analysis says India is hell bent on building a fleet of new coal-fired generating stations — 33 gigawatts (GW) currently under construction and another 29 GW in pre-construction. All of them will  wind up being stranded assets, says Kashish Shah, a research analyst at IEEFA. “Coal-fired power simply cannot compete with the ongoing cost reductions of renewables. Solar tariffs in India are now below even the fuel costs of running most existing coal-fired power plants.

“In the last 12 months no new coal-fired power plants have been announced, and there has been no movement in the 29 GW of pre-construction capacity. This reflects the lack of financing available for new coal fired power projects, and also the flattening of electricity demand growth, which has impacted coal the most.”

Despite such headwinds, the Central Electricity Authority still projects India will reach 267 GW of coal-fired capacity by 2030. That will require adding 58 GW of net new capacity additions, or about 6.4 GW annually.

IEEFA says it is “highly improbable” that the CEA’s projections will materialize, given the ongoing financial and operational stress in the thermal power sector, which means India’s coal capacity plans should be urgently revised.

“Any projections for India’s future generation mix should take into account that new coal-fired power plants are likely to become stranded assets,” says Shah. “The new capacity would only be economically viable if it replaced end-of-life, polluting power plants with outdated combustion technology and locations remote to coal mines.

“Even then, there would need to be sufficient coal plant flexibility to deliver power into periods of peak demand, and the time-of-day pricing would need to be high enough to justify the low over the day utilisation rates.”

Shah adds that without material growth in electricity demand, installing additional inflexible high-emissions baseload capacity will increase the financial distress of state-owned distribution companies by adding to their burden of paying fixed-capacity charges to thermal power plants that are used only sparingly.

The International Energy Agency’s road map for reaching net zero emissions by 2050 recommends no new investment in fossil fuel supply projects, and no further final investment decisions for new unabated coal plants. IEEFA notes there is little appetite from private investors to risk new capital in a sector that continues to carry US$40–60 billion of non-performing or stranded assets.

Only India’s state-owned Power Finance Corporation and Rural Electrification Corporation continue to tout new coal-fired power capacity, but that may have more to do with politics than economics. Nearly half of the 33 GW of capacity now under construction in India is sponsored by those state-owned companies. IEEFA suggests they should “walk away” from those “under construction” projects now to avoid the risk of them sitting idle after they are completed.

“Governments, investors and utilities across the globe are rapidly transitioning to cheaper domestic zero emissions renewable energy,” says Shah. “India should be taking advantage of the falling cost of renewables plus rising viability of battery storage, which can provide clean grid-firming, to meet incremental power demand.

“Accelerating renewable energy capacity commissioning is critical to lower India’s overall energy costs and support faster electrification of transportation and other industries. Ultra-low cost renewables would also enable development of a green hydrogen economy to strengthen India’s long-term objective of energy security.” Seems like basic economics to us.

 

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YMX Logistics deploys 20 new Orange EV electric yard trucks

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YMX Logistics deploys 20 new Orange EV electric yard trucks

Leading yard operation 3PL YMX Logistics has announced plans to deploy fully twenty (20) of Orange EV’s fully electric Class 8 terminal trucks at a number of distribution and manufacturing sites across North America.

As the shipping and logistics industries increasingly move to embrace electrification, yard operations have proven to be an almost ideal use case for EVs, enabling companies like Orange EV, which specialize in yard hostlers or terminal tractors, to drive real, impactful change. To that end, companies like YMX are partnering with Orange EV.

“This relationship between YMX and Orange EV is a significant step forward in transforming yard operations across North America,” said Matt Yearling, CEO of YMX Logistics. “Besides the initial benefits of reduction in emissions and carbon footprint, our customers are also seeing improvements in the overall operational efficiency and seeking to expand. Our team members have also been sharing positive feedback about their new equipment and highlighting the positive impact on their health and day-to-day activities.”

This Orange looks good in blue

YMX Logistics electric yard trucks; by Orange EV.

One of the most interesting aspects of this story – beyond the Orange EV HUSK-e XP’s almost unbelievable 180,000 lb. GCWR spec. – is that this isn’t a story about California’s ports, which mandate EVs. Instead, YMX is truly deploying these trucks throughout the country, with at least four currently in Chicago (and more on the way).

“Our collaboration with YMX Logistics represents a powerful stride in delivering sustainable yard solutions at scale for enterprise customers,” explains Wayne Mathisen, CEO of Orange EV. “With rising demand for electric yard trucks, our joint efforts ensure that more companies can access the environmental, financial, and operational benefits of electrification … this is a win for the planet, the workforce, and the bottom line of these organizations.”

We interviewed Orange EV founder Kurt Neutgens on The Heavy Equipment Podcast a few months back, but if you’re not familiar with these purpose-built trucks, it’s worth a listen.

HEP-isode 26

SOURCE | IMAGES: YMX Logistics.

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Hyundai IONIQ 9 debut, new NACS Kia, solid state batteries from Honda

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Hyundai IONIQ 9 debut, new NACS Kia, solid state batteries from Honda

On today’s thrilling episode of Quick Charge, we’ve got the all-new Hyundai IONIQ 9 and its “a “rolling living room” pivoting captain’s chairs, Kia gets a go-fast 7 passenger SUV and an updated EV6, while Honda announces plans to start producing solid-state batteries at its new facility in just a few weeks.

We’ve also got big news for American workers – a Minnesota power company is ditching coal for solar while ExxonMobil and LG Chem get to work extracting thousands of tons of lithium out of Tennessee’s soil.

Today’s episode is sponsored by BLUETTI, a leading provider of portable power stations, solar generators, and energy storage systems. For a limited time, save up to 52% during BLUETTI’s exclusive Black Friday sale, now through November 28, and be sure to use promo code BLUETTI5OFF for 5% off all power stations sitewide. Learn more by clicking here.

You can watch the episode, below.

Prefer listening to your podcasts? Audio-only versions of Quick Charge are now available on Apple PodcastsSpotifyTuneIn, and our RSS feed for Overcast and other podcast players.

New episodes of Quick Charge are recorded, usually, Monday through Thursday (and sometimes Sunday). We’ll be posting bonus audio content from time to time as well, so be sure to follow and subscribe so you don’t miss a minute of Electrek’s high-voltage daily news!

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Drop us a line at tips@electrek.co. You can also rate us on Apple Podcasts and Spotify, or recommend us in Overcast to help more people discover the show!

Read more: Farm-fegnugen? Volkswagen rolls out an electric tractor.

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One of the US’s first solar peaker plants – with Tesla Megapacks – just came online

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One of the US’s first solar peaker plants – with Tesla Megapacks – just came online

Arevon Energy has kicked off operations at Vikings Solar-plus-Storage – one of the US’s first utility-scale solar peaker plants.

The $529 million project in Imperial County, California, near Holtville, features 157 megawatts of solar power paired with 150 megawatts/600 megawatt hours of battery storage.

Vikings Solar-plus-Storage is designed to take cheap daytime solar power and store it for use during more expensive peak demand times, like late afternoons and evenings. The battery storage system can quickly respond to changes in demand, helping tackle critical grid needs.

Vikings leverages provisions in the Inflation Reduction Act that support affordable clean energy, strengthen grid resilience, boost US manufacturing, and create good jobs.

The Vikings project has already brought significant benefits to the local area. It employed over 170 people during construction, many local workers, and boosted nearby businesses like restaurants, hotels, and stores. On top of that, Vikings will pay out more than $17 million to local governments over its lifespan.

“Vikings’ advanced design sets the standard for safe and reliable solar-plus-storage configurations,” said Arevon CEO Kevin Smith. “The project incorporates solar panels, trackers, and batteries that showcase the growing strength of US renewable energy manufacturing.”

The project includes Tesla Megapack battery systems made in California, First Solar’s thin-film solar panels, and smart solar trackers from Nextracker. San Diego-based SOLV Energy handled the engineering, procurement, and construction work.

San Diego Community Power (SDCP) will buy the energy from the Vikings project under a long-term deal, helping power nearly 1 million customer accounts. SDCP and Arevon have also signed an agreement for the 200 MW Avocet Energy Storage Project in Carson, California, which will start construction in early 2025.

Vikings is named after the Holtville High School mascot, and Arevon is giving back to the local community by funding scholarships for deserving Holtville High students.

Arevon is a major renewable energy developer across the US and a key player in California, with nearly 2,500 MW in operation and more than 1,250 MW under construction.

Read more: Minnesota’s largest coal plant goes solar: Sherco Solar comes online


If you live in an area that has frequent natural disaster events, and are interested in making your home more resilient to power outages, consider going solar and adding a battery storage system. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. They have hundreds of pre-vetted solar installers competing for your business, ensuring you get high quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use and you won’t get sales calls until you select an installer and share your phone number with them.

Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisers to help you every step of the way. Get started here. –trusted affiliate link*

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