Consumer sentiment index: 74.1 vs 72.9 expected.
Disclaimer: this is not an investment site. Do not make any investment, financial, job, career, travel, or relationship decisions based on what you read here or think you may have read here.
Another record: S&P 500. Best August since 1986. 1986? Are you kidding me. That was the year I first started investing on my own. Actually, I think I first started investing in 1984, the year that I finally had positive cash flow. LOL. [Later: now CNBC is saying the Dow is having best August since 1984.]
At the open:
- S&P 500: within five points of 3,500
- Dow 30: up 81 points; positive for 2002
- NASDAQ: trending toward 11,700;
- individual stocks:
- UNP: up slightly
- WMT: up 1.6%; up $2.14
- SBUX; up slightly
- AAPL: up $3.00 -- but AAPL price is going to plunge Monday
- MSFT: up $3.10
The grid: rolling blackouts associated with:
- third-world countries;
- piss-poor planning;
- renewable energy scams;
The grid: rolling blackouts --
- if the grid can't handle electricity demand when annual US EV sales is less than 2% of total US auto sales, how does the grid handle electricity demand when annual US EV sales hit 10%, and then 25% projected by 2025
- the link is a pre-Covid link; it would be nice to see an update
- almost impossible to forecast anything during the pandemic; things are so out of whack
- this will be fascinating to watch
- winners, if this develops: electric utilities
I was just discussing this today with an employee at Coal Creek Station in ND. 1100 MW being shut off without a reliable replacement for base power load. This power goes to Minnesota which is most likely an early adopter of EVs. Wait until they see their power bills.
ReplyDeleteYou are so correct: their electricity bills now and then imagine when they start plugging in their EVs overnight.
DeleteReplace the lignite power plant with a combined cycle NG. Powerline infrastructure is in place. Plenty of NG available in the area.
DeleteDing! that was easy
I politely disagree with your comment about the grid being overwhelmed by EVs. My electric supplier is FirstEnergy. About 11 cents/KWH, 6 cents to produce the power, 5 cents for distribution and taxes. There is a large cost of infrastructure of power plants, and distribution (transmission lines, transformers).
ReplyDeleteCost for fuel to make the power with a modern NG combined cycle turbine with 60% efficiency @ $2.50 per MBTU is about $15. So, the cost for fuel is under 15% at my house for the provided electricity.
I'm retired now, but if I had a job and drove 40 miles a day for the commute, an EV gets about 4 miles per KWH, would need 10KWH a day to power the EV.
FirstEnergy is selling power at 2 cents discount between 10pm to 6am. During late night and early morning electric power infrastructure has a utilization well under 50%. IMHO FirstEnergy is making good $$$ by increasing utilization of the grid, plus another bonus its the cooler time to transport power, less stress on the grid.
The grid is designed for peak demand costing billions of dollars. By charging EVs during off peak hours reduces cost per KWH due to higher utilization of the grid infrastructure.
If I owned an EV, using it to commute this would increase my electricity consumption by ~20%
I think your last line says it all.
DeleteAnd the power needed for the EV would not stress the grid at time of minimum demand by legacy customers.
DeleteWith all these factoids, I find it surprising that after fifty years of EV technology, EV penetration is still less than 2%, that EV sales fell in 2019 (pre-covid) and 2020 will be significantly worse.
Delete