I thought with the explosion of electric power and windmills and the electric vehicle boom, fossil fuels would not be required…
Yet, a lot of countries still generate coal and other fossil fuels, is it because there is still filthy amounts of profit there to be made? Maybe they are just so used to it they don’t wanna swap to another resource?
I thought with Solar panels being massively produced, it would sell like hot cakes and you’re literally having the power of the sun in your hand.
Established supply chain, workforce knowledge. Energy density. Ease of use.
The cost of the raw material is low enough to make it a viable option for the time being. There are also costs associated with switching to renewable options, which makes the transition slower.
Think of it from the perspective of a coal plant owner. You’ve already spent millions into construction and maintenance, so you really want some return on that investment.
When the plant reaches its end of life, that’s usually the best time to start considering other options. If the running costs rise dramatically or you are required to modernize the plant, that could be another time to take a look at other options.
BTW this is the reason why environmental legislation is so important. Companies listen to money, and governments decide what makes economic sense and what doesn’t.
Energy density and entrenched profit structures are big ones for sure. :/