Chinese City Has Money To Burn, Power To Spare

It's one thing to have money burn a hole in your pocket, quite another for it to heat your home and light the streets at night. The latter, however, is how they're doing things in Luoyang, China, where an innovative project has scrapped banknotes being burned by the bushel 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 incinerated.

The pilot project has been running since April of 2014 and as it seems to be successful, 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. It's nice to know old money CAN learn new tricks!