Nearly half of all electricity generated in the world today comes from power plants that use steam turbines built in the days of rotary telephones and manual typewriters, operating at thermal efficiencies of around thirty-percent and thereby discarding seventy percent of the energy in the fuel they consume.
How did the electric power industry miss out on the technological revolution of the past 50-years, and what can be done to bring the industry in-line with telecommunications, transportation, computing and countless other industries that have evolved so dramatically over the same time frame?
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