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Title: Which countries have the cheapest electricity? Post by: Anonymous on January 20, 2011, 07:11:19 PM Has anyone moved there just because they wanted to mine bitcoins? :D
I think they might look at you strangely if you applied for a visa and your reason was bitcoin mining.... Title: Re: Which countries have the cheapest electricity? Post by: mndrix on January 20, 2011, 07:23:36 PM I don't know about other countries (I'm just an ignorant American :-), but Wyoming supposedly has the least expensive electricity in the U.S. (http://www.instituteforenergyresearch.org/renewable-mandates/). I pay after taxes and fees, I pay about $0.09/kWh here.
Title: Re: Which countries have the cheapest electricity? Post by: just a man on January 20, 2011, 07:31:55 PM France has massively subsidized nuclear power, meaning that their energy is so cheap and abundant they sell electrons to their neighbors.:)
Title: Re: Which countries have the cheapest electricity? Post by: Anonymous on January 20, 2011, 07:40:17 PM France has massively subsidized nuclear power, meaning that their energy is so cheap and abundant they sell electrons to their neighbors.:) That makes sense. Title: Re: Which countries have the cheapest electricity? Post by: genjix on January 20, 2011, 08:14:48 PM If you're being serious then go to an oil rich developing country like Iran. They have lots of oil to burn for domestic electricity so it costs next to nothing (even poor citizens easily afford it). Energy consumption in Iran is 6.5 times that of global average because people don't give a fuck as it's nearly free.
http://upload.wikimedia.org/wikipedia/commons/c/c6/Energy_consumption_per_capita-Iran.png Note how generation exceeds consumption by far, http://upload.wikimedia.org/wikipedia/commons/1/1c/Iran-electricity.gif Quote It is estimated that 18.5% of electricity generated in Iran is wasted before it reaches consumers due to technical problems. Electric power wastage hit $1.1 billion in 2006. This is a country that does not care about resource-conservation due to over-abundance. Title: Re: Which countries have the cheapest electricity? Post by: davout on January 20, 2011, 08:28:13 PM France has massively subsidized nuclear power, meaning that their energy is so cheap and abundant they sell electrons to their neighbors.:) Our energy might be abundant, but it's definitely not that cheap.0.11 EUR/kwh. Title: Re: Which countries have the cheapest electricity? Post by: MoonShadow on January 20, 2011, 08:47:41 PM I don't know about other countries (I'm just an ignorant American :-), but Wyoming supposedly has the least expensive electricity in the U.S. (http://www.instituteforenergyresearch.org/renewable-mandates/). I pay after taxes and fees, I pay about $0.09/kWh here. Last I checked, my residential electric rates were under 8 cents per KWH. Title: Re: Which countries have the cheapest electricity? Post by: Anonymous on January 20, 2011, 10:23:33 PM I don't know about other countries (I'm just an ignorant American :-), but Wyoming supposedly has the least expensive electricity in the U.S. (http://www.instituteforenergyresearch.org/renewable-mandates/). I pay after taxes and fees, I pay about $0.09/kWh here. Last I checked, my residential electric rates were under 8 cents per KWH. Thats cheap! Title: Re: Which countries have the cheapest electricity? Post by: MoonShadow on January 20, 2011, 10:32:58 PM I don't know about other countries (I'm just an ignorant American :-), but Wyoming supposedly has the least expensive electricity in the U.S. (http://www.instituteforenergyresearch.org/renewable-mandates/). I pay after taxes and fees, I pay about $0.09/kWh here. Last I checked, my residential electric rates were under 8 cents per KWH. Thats cheap! I live about five miles from a 80 megawatt hydroelectric plant. http://en.wikipedia.org/wiki/McAlpine_Locks_and_Dam Title: Re: Which countries have the cheapest electricity? Post by: Stephen Gornick on January 20, 2011, 10:49:03 PM Quote The Electricity pricing Wikipedia article http://en.wikipedia.org/wiki/Electricity_pricing#Global_electricity_price_comparison shows the price per kWh in over two dozen countries. The top three of those where electricity is the cheapest are Spain, Canada and Finland, each of which show electricity under $0.07 US per kWh. Germany, the Netherlands, Italy and Denmark are at the end of that list with electric rates over $0.30 US per kWh. Quote Though the U.S. average is now a little over $0.10 US per kWh, according to a U.S. Department of Energy monthly report http://www.eia.doe.gov/cneaf/electricity/epm/table5_3.html , the residential average is $0.12 US. On the high end, excluding areas outside the contiguous U.S., are the Northeast states of New York, Connecticut and New Jersey with rates approaching $0.20 US. On the low end are the Pacific Northwest states Washington and Idaho which are under $0.09 US. As a rule of thumb, commercial rates can be calculated as being about 90% that of residental, though the report provides specific rates for each state. http://www.bitcoinminer.com/post/2361900289/where-to-mine-prices-of-electricity Title: Re: Which countries have the cheapest electricity? Post by: ircicq on January 20, 2011, 11:37:37 PM In Russia (excepting Moscow & St.Petersburg) 1kWh = $0.06..$0.07
Title: Re: Which countries have the cheapest electricity? Post by: bitcoin2 on January 20, 2011, 11:45:01 PM All Europe prices: http://www.energy.eu/
Title: Re: Which countries have the cheapest electricity? Post by: jib on January 20, 2011, 11:49:03 PM I don't have numbers, but Australia is said to have very cheap electricity.
Title: Re: Which countries have the cheapest electricity? Post by: ColdHardMetal on January 20, 2011, 11:55:19 PM Just took a look at my last bill and it averaged out to about .12 USD/kWh here in Korea. From a low of about .05 USD/kWh for the first 100 kWh, .11 for the 2nd 100, .17 for the 3rd 100, to .25 for the 4th 100. That's the last bill I got before I started mining so I'm pretty curious to see the next one.
Title: Re: Which countries have the cheapest electricity? Post by: MoonShadow on January 21, 2011, 12:06:10 AM Just took a look at my last bill and it averaged out to about .12 USD/kWh here in Korea. From a low of about .05 USD/kWh for the first 100 kWh, .11 for the 2nd 100, .17 for the 3rd 100, to .25 for the 4th 100. That's the last bill I got before I started mining so I'm pretty curious to see the next one. There is no way that I could afford my lifestyle with your energy rates. Title: Re: Which countries have the cheapest electricity? Post by: bitcool on January 21, 2011, 12:15:39 AM Just took a look at my last bill and it averaged out to about .12 USD/kWh here in Korea. From a low of about .05 USD/kWh for the first 100 kWh, .11 for the 2nd 100, .17 for the 3rd 100, to .25 for the 4th 100. That's the last bill I got before I started mining so I'm pretty curious to see the next one. Is high speed Internet free in S. Korea? I heard the HS Internet adoption rate is very high there. Access cost is important to the mining too. Title: Re: Which countries have the cheapest electricity? Post by: ColdHardMetal on January 21, 2011, 12:24:21 AM Just took a look at my last bill and it averaged out to about .12 USD/kWh here in Korea. From a low of about .05 USD/kWh for the first 100 kWh, .11 for the 2nd 100, .17 for the 3rd 100, to .25 for the 4th 100. That's the last bill I got before I started mining so I'm pretty curious to see the next one. Is high speed Internet free in S. Korea? I heard the HS Internet adoption rate is very high there. Access cost is important to the mining too. No it's not free but it's pretty cheap as far as I know. We pay about $30 a month which is cheaper than what I paid in Canada last time I lived there. Adoption is super high. You can also find PC rooms, think internet cafes, stuffed full of pretty decent gaming rigs basically everywhere you go. And by everywhere I mean if you're standing somewhere and there aren't 2-3 within sight, or at least within a block of you, it's kind of strange. Those you can use for under a $1 an hour last time I checked. Title: Re: Which countries have the cheapest electricity? Post by: ColdHardMetal on January 21, 2011, 12:41:54 AM Just took a look at my last bill and it averaged out to about .12 USD/kWh here in Korea. From a low of about .05 USD/kWh for the first 100 kWh, .11 for the 2nd 100, .17 for the 3rd 100, to .25 for the 4th 100. That's the last bill I got before I started mining so I'm pretty curious to see the next one. There is no way that I could afford my lifestyle with your energy rates. Car gas is also pretty expensive. I should point out that I only pay about 6% income tax, which is negligible in my mind compared to what I paid in Canada, so it balances out. Medical care and food are pretty cheap here as well. Title: Re: Which countries have the cheapest electricity? Post by: humble on January 21, 2011, 03:59:40 AM Residentail rates are $0.05 kwh and industrial are $0.08 kwh CDN, here in Vancouver, Canada. The entire province runs on hydro-electric.
Title: Re: Which countries have the cheapest electricity? Post by: MoonShadow on January 21, 2011, 05:24:33 AM Residentail rates are $0.05 kwh and industrial are $0.08 kwh CDN, here in Vancouver, Canada. The entire province runs on hydro-electric. That sounds backwards, as the larger customers tend to have bigger discounts. Why is it this way, is residential electric subsidised? Title: Re: Which countries have the cheapest electricity? Post by: Timo Y on January 21, 2011, 12:12:28 PM Set up your own windmill for your household needs and generate bitcoin only when there is excess electricity at peak times.
Then you are getting your electricity for free. Title: Re: Which countries have the cheapest electricity? Post by: ribuck on January 21, 2011, 12:20:29 PM In the UK there are alternatives to the standard residential fee structure. One of those provides very cheap off-peak electricity in exchange for slightly increased peak prices. For most people it's not a good deal, but for someone who wanted to use their computer normally in the day but mine all night it would be perfect.
Title: Re: Which countries have the cheapest electricity? Post by: sandos on January 21, 2011, 02:46:58 PM Set up your own windmill for your household needs and generate bitcoin only when there is excess electricity at peak times. Then you are getting your electricity for free. Thats a pretty cool idea. Too bad about the hw going unused for most of the time! Title: Re: Which countries have the cheapest electricity? Post by: humble on January 21, 2011, 04:15:42 PM Residentail rates are $0.05 kwh and industrial are $0.08 kwh CDN, here in Vancouver, Canada. The entire province runs on hydro-electric. That sounds backwards, as the larger customers tend to have bigger discounts. Why is it this way, is residential electric subsidised? Well... I'm not speaking as a large industrial client. It's well known that large industrial customers (eg. Teck-Cominco aluminium smelter) get super sweet deals on bulk power. I'm only speaking as someone who maintains an office in a light industrial area of town. In a related note, our power utility is considering offering a different pricing structure that involves the installation of real-time meters and discounts during off-peak times, combined with surcharges during peak times. I think this has been done quite effectively in other parts of the world. Title: Re: Which countries have the cheapest electricity? Post by: casascius on January 21, 2011, 05:25:43 PM What would be nice is if you could sell "space heater" appliances to people who were already going to use the electricity anyway for home heating, which also happened to generate Bitcoins at the same time.
Price per kWh = $0.00 Title: Re: Which countries have the cheapest electricity? Post by: Stephen Gornick on January 21, 2011, 05:37:53 PM In the UK there are alternatives to the standard residential fee structure. One of those provides very cheap off-peak electricity in exchange for slightly increased peak prices. For most people it's not a good deal, but for someone who wanted to use their computer normally in the day but mine all night it would be perfect. For consumer use, time-of-use pricing would provide a nice benefit. [edited] When equipment is dedicated for mining -- as long as the cost of peak electricity is below the revenue from mining during that same period of time, mining will not likely be curtailed for any part of the day whatsoever. Time-of-use electric pricing irrelevant — Mining is 24x7: http://www.bitcoinminer.com/post/2858427974/time-of-use-pricing Title: Re: Which countries have the cheapest electricity? Post by: bitcool on January 21, 2011, 06:56:01 PM What would be nice is if you could sell "space heater" appliances to people who were already going to use the electricity anyway for home heating, which also happened to generate Bitcoins at the same time. Price per kWh = $0.00 It's true when comparing to space heaters, but not true when comparing to heat pumps, which can move 2~4 times energy than what they consume. Title: Re: Which countries have the cheapest electricity? Post by: humble on January 21, 2011, 09:35:44 PM The space heater model is the one I'm working with. My industrial space is divided into several spaces. One of which is fully heated by a miner. Another of which is about 50% heated by a miner. I'm thinking of adding some to the main space but noise is a factor. Gotta think it through a bit more. Summer is going to be a problem...
Title: Re: Which countries have the cheapest electricity? Post by: bitcoinex on January 31, 2011, 01:11:58 AM Russia: ~$0.0667 per kW/h
Title: Re: Which countries have the cheapest electricity? Post by: kvk on January 31, 2011, 05:51:59 AM Russia: 0.023$/kWh.
Title: Re: Which countries have the cheapest electricity? Post by: Nefario on January 31, 2011, 06:14:34 AM China:$0.09 kwh, about for residential.
Title: Re: Which countries have the cheapest electricity? Post by: MoonShadow on February 01, 2011, 08:40:34 AM Title: Re: Which countries have the cheapest electricity? Post by: jorgen on February 02, 2011, 11:32:44 PM Do not know about Russia, but in Ukraine it's currently about 0.032$/kWh but the gov promised to rise it in near future >:( Title: Re: Which countries have the cheapest electricity? Post by: sniper_sniperson on April 13, 2011, 05:38:54 PM Not in near future, they'll become raising now. Just do the math - electric systems are a part of global economic system. The main goal today is to optimize the network/in simple words unified way to deliver the power of electricity to your home/ and lower the costs of el. companies/respectively their losses/ and to raise the bills for the end users.
Yes, in the near future prices for kWh will be too close one to each other for different countries. They''ll be also higher. Title: Re: Which countries have the cheapest electricity? Post by: alexdrans on May 13, 2011, 04:42:36 PM Just took a look at my last bill and it averaged out to about .12 USD/kWh here in Korea. From a low of about .05 USD/kWh for the first 100 kWh, .11 for the 2nd 100, .17 for the 3rd 100, to .25 for the 4th 100. That's the last bill I got before I started mining so I'm pretty curious to see the next one. There is no way that I could afford my lifestyle with your energy rates. Car gas is also pretty expensive. I should point out that I only pay about 6% income tax, which is negligible in my mind compared to what I paid in Canada, so it balances out. Medical care and food are pretty cheap here as well. Where do you live? Title: Re: Which countries have the cheapest electricity? Post by: caston on May 14, 2011, 12:19:39 PM It's not looking so good here in Western Australia with Synergy we have something like 20.42 or 40.14 cents per kilowatt hour depending on the time of day and if its summer or winter and 10.78 cents/kWh off peak 9pm to 7am. http://www.synergy.net.au/docs/SmartPower.pdf
So it looks like if I want to keep mining I can only do it offpeak and even then I should be looking at getting the highest amount of per kilowatt hashing rather than the highest hash rate. Damn I just bought a 6950 as well. Maybe I should undervolt and underclock my CPU and only mine offpeak but even the offpeak rate isn't cheap here. Other than that I may have to start thinking about biological computing that I could just feed kitchen scraps. You know FPGA's in DNA etc. Title: Re: Which countries have the cheapest electricity? Post by: jasonk on May 15, 2011, 03:44:32 AM In Northern California, I pay 11 cents per Kwhr. California average is 15c i think... I live a few miles away from a 676Mw Dam (Shasta Dam).
Title: Re: Which countries have the cheapest electricity? Post by: gigabytecoin on May 15, 2011, 09:26:49 AM I don't know about other countries (I'm just an ignorant American :-), but Wyoming supposedly has the least expensive electricity in the U.S. (http://www.instituteforenergyresearch.org/renewable-mandates/). I pay after taxes and fees, I pay about $0.09/kWh here. Really? 0.09/kwh is the cheapest in the USA? That stinks! Up in ontario average rate is about 0.07/kwh It dips down to 0.05 at night and up to 0.09 during the day I believe. My condominium building is free however ;) I am saving about $200/month right now! Title: Re: Which countries have the cheapest electricity? Post by: caston on May 15, 2011, 05:16:54 PM So what should I do if electricity is so expensive here? I'm seriously heart broken now that I know what synergy charge. :'(
Title: Re: Which countries have the cheapest electricity? Post by: db8393 on May 15, 2011, 07:56:50 PM I was looking over the tariffs for Utah,
Business rates are around $0.026Kwh offpeak and $0.04 Kwh onpeak. But ... I dont get the charge they have called a "Power charge" that is per KW I am guessing that is in addition to the "Energy charge" that is measured by Kwh If anybody is familiar with this Industrial pricing structure let me know what they mean by that Power charge, that is listed per KW http://www.rockymountainpower.net/content/dam/rocky_mountain_power/doc/About_Us/Rates_and_Regulation/Utah/Approved_Tariffs/Rate_Schedules/Large_General_Service_1_000_kW_and_Over_Distribution_Voltage.pdf Title: Re: Which countries have the cheapest electricity? Post by: njloof on May 16, 2011, 12:59:20 AM So what should I do if electricity is so expensive here? I'm seriously heart broken now that I know what synergy charge. :'( Solar panels. Title: Re: Which countries have the cheapest electricity? Post by: caston on May 17, 2011, 05:10:45 AM njloof:
We have these already .. that's actually half the problem: http://forums.whirlpool.net.au/archive/1304164 You see we are charged more for the peak rate because we have solar and thus a smart meter than we would be charged without it. I also live with my parents and they will freak out if I am using their electricity to mine bitcoins. They actually want to see themselves getting a credit for the power they supply back to the grid rather than a bill for what they draw. My mum goes mental if I leave a light on so I am doing my best to change most of the lights in the house to LED and I want to sell off all the LCD screens in the house and replace them with LED screens. I have started paying money on their power bill via direct debit from my bank account every fortnight but it still won't make financial sense at the rates we are charged. I am also looking for other alternatives e.g. I live in a horse racing area and there is a lot of horse shit that the horse trainers can't get rid of fast enough. I would like to make a horse poo - > methane -> electricity generator. so then I have horse poo -> methane -> electricity -> mining rig -> bitcoins Something like the examples here: http://www.builditsolar.com/Projects/BioFuel/biofuels.htm or this story here: http://beta2.tbo.com/news/suncoast-news/2010/mar/05/wp-plant-turns-horse-manure-into-methane-powering--ar-73553/ I have been looking for open designs and resources like this: http://bio-gas-plant.blogspot.com/2011/04/homemade-biogas-methane-gobar-gas.html and I'm looking up videos about the subject like this: http://www.bukisa.com/videos/331437_how-bio-gas-digesters-can-sell-energy-back http://www.youtube.com/watch?v=XJSmI-aONio I will also need to buy, build or modify a gas combustion turbine. I would probably make a very low power machine and still bitcoin on it and get it to hash even if its a very slow hash rate simply as a proof of concept. A more exciting possibility is perhaps even using bacteria to produce electricity directly: http://www.youtube.com/watch?v=8n1LsafQ194 Geobacter: http://www.greeniacs.com/GreeniacsArticles/Energy/Microbial-Fuel-Cell.html |
