say that China is set to be the new powerhouse of the world,
with money to burn, well that is literally the case in Luoyang, China, where an innovative project has scrapped banknotes being burned in local power generation plants,
according to iFeng News, burning scrap banknotes in power generation plants can produce up to 660 kw/h of electricity per ton, currently, almost all of this potential power windfall is being wasted as scrapped currency is simply incinerated, while simply adding the used banknotes to other combustible fuel could offer further savings, security concerns make this problematic,
the pilot project in Luoyang, however, involves the unusable banknotes being gathered, counted and shredded under tight supervision at a local bank branch before being sent to be used as fuel, the pilot project has been running since April of 2014 and as it seems to be successful, it will probably be expanded to other cities across China in coming months, should all of China's unusable banknotes be incinerated in power plants, an estimated 1.32 million kilowatt-hours of energy can be produced annually, so will other Western countries follow China's lead? it is an interesting thought as I guess most countries have to incinerate unusable currency, the heat produced going totally I guess to waste.
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