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by jhgb
1734 days ago
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> So he is turning down real investment in renewables No, he's not. > meanwhile his plan crashes the price of renewable energy endangering those industries and shrinking the market.. allowing established fossil fuel industries a bigger share It seems that you have completely missed the past four decades of renewable energy decreasing in price by a factor of 100x. The result of this decrease was not "endangering those industries", but rather making them viable in the first place and broadening the market massively. As per Jevons, the energy market doesn't shrink when prices get lower. I'm puzzled as to how someone could make such a glaringly obvious mistake. |
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And it seems you have completely missed the fact that investment from crypto miners helped to bring this efficiency saving about, if there wasn't so much demand, there would be nothing to invest in R&D and infrastructure that inevitably lower prices.
Crypto, or specifically PoW acts like a guarantee of sale under a certain price per KwH. It used to be necessary for governments to guarantee power prices, and offer subsidies to encourage investment in their countries infrastructure. PoW in part replaces this necessity and encourages companies to invest in renewable, efficient, power production.