Citigroup: The revolution will not be televised
What do we make of it when one of the worlds largest banks tells us nuclear is not a viable alternative to either renewable energy or natural gas? Where solar is at parity with fossil fuels on the western half of the US.
Those hippies at Citigroup are at it again. In late March, they published a study asserting that 2014 was ushering in the “Age of Renewables” in the U.S. According to that study, electricity costs are being set primarily by the cost of natural gas and Citigroup’s analysis predicts that gas will become somewhat more expensive while renewables already are at or near a competitive level with gas.
The report notes that nuclear and coal are structurally disadvantaged because both technologies are viewed as uncompetitive on cost. Environmental regulations are making coal even pricier, and the aging nuclear fleet in the U.S. is facing plant shutdowns due to the challenging economics.
“We predict that solar, wind, and biomass continue to gain market share from coal and nuclear into the…
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