I see this posted a lot as if this is an issue with capitalism. No, this is what happens when you have to deal with maintaining the power grid using capitalism as a tool.
The framing of it as the problem being that the price is going down rather than that excess power is feeding into the grid is what makes it an issue with capitalism. The thing you should be questioning is why MIT Technology Review is talking about some consequence of the problem that only exists because of capitalism instead of talking about the problem itself.
And before you downvote/object with some knee-jerk reaction that I’m being pedantic, consider this alternative way of framing it:
The opportunity is that solar panels create lots of electricity in the middle of sunny days, frequently more than what’s currently required, so it is necessary to develop new flexible sources of demand so that the excess energy doesn’t damage the power grid.
I don’t like using the term capitalism because it is too vague. Political corruption protecting oligarchy/big corporations is the problem.
Inflation resulting from start of full war on Russia and resulting oil/diesel price spike forced the wrong policy of higher interest rates. The theory in the past is that increasing austerity on consumers reduce their driving, and preventing business investment also reduces expanded demand for scarce FFs.
In the dynamics of energy disruption, high interest rates are the biggest cost obstacle for renewables and less new renewables is more oil/FF extortion power. At 2000 sun hours/year, $1/watt solar installation, could get a 16 year payback = 100% overall profit at 3c/kwh price. 2c/kwh at 3000 sun hours/year. Every 2% in interest costs, increases required price by 1c/kwh.
Protection of existing assets/supply scarcity is not affected by higher interest rates. New oil wells do have a big upfront cost, but they also have a huge power and maintenance requirement that is paid for with the product taken out of the ground, with ROI protections if renewables can be suppressed, including with high interest rates.
Political corruption favouring scarcity over abundance is the problem. Cheap energy or steel is a huge competitive and life quality advantage. Use cheap inputs for more productivity and happier life with cheaper cost.
Not really. It’s like saying toast falls butter side down, vs toast falls non-buttered side up?
Perhaps some are conditioned for an emotional response, rather than a rational one, upon hearing certain words? That’s why you suggest to avoid them, even to describe the same issue?
they did talk about this many years ago. This is a very old screenshot that has been around the internet for probably a decade at a guess. You might notice the check mark because this was from a time that twitter actually vetted sources. There’s nothing wrong with a publication having bad takes on occasion. That does happen now and again.
The telling part is the fact that this one single tweet keeps being reposted repeatedly, with the reply as if this is a substantive criticism of capitalism.
The framing of it as the problem being that the price is going down rather than that excess power is feeding into the grid is what makes it an issue with capitalism. The thing you should be questioning is why MIT Technology Review is talking about some consequence of the problem that only exists because of capitalism instead of talking about the problem itself.
And before you downvote/object with some knee-jerk reaction that I’m being pedantic, consider this alternative way of framing it:
That’s pretty vastly different, isn’t it?
I don’t like using the term capitalism because it is too vague. Political corruption protecting oligarchy/big corporations is the problem.
Inflation resulting from start of full war on Russia and resulting oil/diesel price spike forced the wrong policy of higher interest rates. The theory in the past is that increasing austerity on consumers reduce their driving, and preventing business investment also reduces expanded demand for scarce FFs.
In the dynamics of energy disruption, high interest rates are the biggest cost obstacle for renewables and less new renewables is more oil/FF extortion power. At 2000 sun hours/year, $1/watt solar installation, could get a 16 year payback = 100% overall profit at 3c/kwh price. 2c/kwh at 3000 sun hours/year. Every 2% in interest costs, increases required price by 1c/kwh.
Protection of existing assets/supply scarcity is not affected by higher interest rates. New oil wells do have a big upfront cost, but they also have a huge power and maintenance requirement that is paid for with the product taken out of the ground, with ROI protections if renewables can be suppressed, including with high interest rates.
Political corruption favouring scarcity over abundance is the problem. Cheap energy or steel is a huge competitive and life quality advantage. Use cheap inputs for more productivity and happier life with cheaper cost.
Not really. It’s like saying toast falls butter side down, vs toast falls non-buttered side up?
Perhaps some are conditioned for an emotional response, rather than a rational one, upon hearing certain words? That’s why you suggest to avoid them, even to describe the same issue?
they did talk about this many years ago. This is a very old screenshot that has been around the internet for probably a decade at a guess. You might notice the check mark because this was from a time that twitter actually vetted sources. There’s nothing wrong with a publication having bad takes on occasion. That does happen now and again.
The telling part is the fact that this one single tweet keeps being reposted repeatedly, with the reply as if this is a substantive criticism of capitalism.