Forbes Magazine recently published an article on the new cost advantage of clean energy.
By 2030, 96% of the time, it is cheaper to build new renewable energy capacity over keeping coal plants running.
Here is a snippet from the article, “Coal Power Plants Lose Their Cost Advantage Over Clean Energy.”
When it started becoming as cheap, and then cheaper, to build wind or solar farms than fossil fuel power, the renewable energy plants still faced the barrier of being in competition with coal plants that had already been built. Invariably, these were cheaper.
Not any more – in 2018, more than four out of 10 (42%) of the world’s coal-fired power stations are running at a loss and by 2030, in virtually every case (96%) it will be cheaper to build new renewable energy capacity than to keep coal plants running , according to the latest study from research group Carbon Tracker.
As global climate talks get under way in Poland, one of the world’s most coal-dependent economies, the report’s conclusions not only challenge the need for governments to build new coal generation but also suggest that it would be more economical to shut existing plants than keep them running, as well as helping nations meet their targets under the Paris Agreement on climate change.
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