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Bushveld Minerals

IEEFA: Solar-plus-storage undermines coal economics by ‘hundreds of millions’ of dollars

Tumbling solar-plus-storage costs could see the hybrid technology become a money saver for US firms grappling with expensive legacy coal portfolios, according to the Institute for Energy Economics and Financial Analysis (IEEFA).

Utilities shutting down coal units ahead of their end-of-life point and replacing them with renewables, stand to reap savings in the “hundreds of millions”, the think tank claimed in a recent update.

PacifiCorp, a subsidiary of Warren Buffett’s Berkshire Hathaway Energy, is one a raft of utilities IEEFA said is “reckoning with a new reality” of coal closures. In a recent review, the firm found early retirement of certain coal units would create “potential benefits” for its 1.8 million customers.

Bushveld Minerals Limited (LON:BMN), together with its subsidiaries, engages in the exploration and development of mineral projects in South Africa. It operates through three segments: Vanadium and Iron Ore, Coal Exploration, and Vanadium Mining and Production.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.