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UK Labour government would aim to to treble the UK’s current solar capacity

Solar Power Portal 26th Sept 2018 A Labour government would look to treble the UK’s current solar capacity
and create more than 400,000 green jobs by 2030. Those were the key facts
from this week’s Labour Party conference which comprised speeches from
some of the opposition party’s central figures. Yesterday the party’s
shadow business, energy and industrial energy secretary Rebecca Long-Bailey
said that Labour had been working with an “expert team” of energy
professionals, engineers and academics to assess how the country could meet
such a target. A near trebling of the UK’s solar capacity would equate to
around 39GW of operational solar in the UK, enough, according to
Long-Bailey, to power seven million homes. Leonie Greene, director of
advocacy at the Solar Trade Association, stressed that expanding wind and
solar capacity should be an economically-driven decision that crosses party
political lines. “The government estimates that around £180 billion
needs to be invested in the electricity sector alone to 2030, so enabling
the lowest cost technologies which do not need public subsidy and which do
not contribute to climate change – namely solar and onshore wind – would be
very good news for consumers.”
https://www.solarpowerportal.co.uk/news/corbyns_labour_government_would_treble_uk_solar_capacity_create_400000_gree

September 28, 2018 Posted by | politics, renewable, UK | Leave a comment

The Last Nuclear Power Plant Under Construction in the U.S. Lives to See Another Day

,Fortune, By GRACE DOBUSH , 27 Sept 18, The Alvin W. Vogtle Electric Generating Plant in Georgia, the only nuclear power reactors currently under construction in the U.S., got a last-minute save last night as warring partners agreed to new funding terms.

Southern Co. subsidiary Georgia Power, which owns 45.7% of the project, will shoulder more of the costs past a certain level, and agreed to purchase future tax credits at a discounted cost from co-owners Oglethorpe Power Corp. (30%), the Municipal Electric Authority of Georgia (22.7%) and Dalton Utilities (1.6%).

Costs for the two new nuclear reactors have nearly doubled to more than $27 billion. Partners and politicians are worried the costs will trickle down to rural customers’ electric bills, but the sunk costs of halting construction would also be expensive for consumers.

The existing two reactors at Vogtle have been in operation since the 1980s. The new reactors, now expected to come online in 2021 and 2022, are five years behind schedule and $13 billion over budget. The Vogtle owners have been struggling since the designer and lead construction contractor, Westinghouse Electric Co., filed for bankruptcy in March 2017.

The Department of Energy has paid the project’s owners $5.6 billion of an $8.3 billion loan guarantee for the project. The Trump administration has promised the project another $3.7 billion if construction continues. But if the project were stopped, the DOE would demand an accelerated repayment schedule.

John Sneed, executive director of the DOE Loan Programs Office, had said in a letter to project leaders that his agency acknowledges continuing construction is a “commercial decision” but that the owners must realize Vogtle’s “profound impact on the U.S. nuclear industry.” He added: “The decision each owner makes should be made with an understanding of the ripple effect this project is already having, including job creation and the positive signal of the continued value of commercial nuclear power in our country.”……..http://fortune.com/2018/09/27/vogtle-nuclear-power-plant-construction-deal/

September 28, 2018 Posted by | business and costs, USA | Leave a comment