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In a nutshell, it is not correct to assign human attributes (e.g., lifetimes) to inanimate objects. Consequently, the operating span of a coal fired power plant can be unlimited since any degraded or failed component can be replaced with a new one. Some of the oldest U.S. coal plants have operated since 1921. The decision on whether to make a refurbishment, or to build a new plant, is merely a question of relative economics and investment risk. For example, the cost of a single replacement part is almost always less than the cost of replacing the plant. However, in an old plant, there is a risk that many additionally worn parts also will need replacement soon. Plant owners evaluate these tradeoffs each time a major component fails and make the decision whether or not to retire the plant.

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