Coal loses price war against wind and solar faster than expected – fr

Coal loses price war against wind and solar faster than expected – fr

According to a new study, the costs of most existing coal-fired power plants in the United States are now more expensive than the total costs of wind and solar power due to their falling costs.

Coal versus wind and solar

Reports from the American think tank Energy Innovation:

Today, local wind and solar could replace 80% of America’s coal fleet with immediate savings for customers. This research provides an update to the 2019 Coal Cost Crossover report and finds that the initial projection that three-quarters of all coal-fired power plants would not be profitable by 2025 was almost reached by 2020.

In 2019, 239 gigawatts (GW) of coal capacity was online in the United States. In 2020, 166 GW (72% of 2019 capacity) were not profitable compared to local wind or solar power or had to retire within five years. Of a total of 235 coal-fired power plants in the United States, 182 (80%) are either unprofitable or are already being phased out.

The Energy Innovation report concludes:

Coal is a highly polluting and expensive way to generate electricity. This analysis shows that we have economic alternatives to continue burning coal to generate electricity in the United States. In addition, analyzes such as “The 2035 Report” show that we can completely phase out coal, stop building other fossil fuel (i.e. gas) power plants, and reliably meet demand for electricity, all of it. by offering a host of environmental and societal benefits. There are existing policies that can help policymakers take a close look at the cost burden of productive resources used today, secure cheaper and cleaner productive resources in the future, and address current assets. on the books. The continuation and intensification of the crossing of the costs of coal demands the attention of policy makers and consumers.

You can read the full report here.

Taking Electrek

No wonder Sen. Joe Manchin (D-WV) and Cecil Roberts, president of America’s largest coal union, the United Mine Workers of America, finally (reluctantly, on Manchin’s part) recognized the need for a transition from coal to renewable energy in the Appalachians in April. 19. Coal can no longer be justified in the United States, not only for environmental and societal reasons, but now also for economic reasons.

As many social media comments on my green energy stories have shown, especially when it comes to Texas, the general public continues to buy the lies of the fossil fuel industry, as well as the lies of their political supporters. But once the higher costs of fossil fuels reach the pockets of consumers, the lie cannot continue.

Coal could bounce back worryingly in Asia, according to a recent report from the International Energy Agency. Energy and environmental groups expected fossil fuel use to get worse before it got better.

There are issues that urgently need to be addressed in renewable growth, such as the demand, possible scarcity and ethical sourcing of minerals, and the urgent need for a surge in renewable production in the United States. But at the end of the day, coal is now the worst possible energy choice on all fronts.

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