42% of global coal power plants run at a loss, finds world-first study – Carbon Tracker Initiative

From the article:

  • 42% of global coal capacity is already unprofitable because of high fuel costs; by 2040 that could reach 72% as existing carbon pricing and air pollution regulations drive up costs while the price of onshore wind and solar power continues to fall; any future regulation would make coal power still more unprofitable;

  • it costs more to run 35% of coal power plants than to build new renewable generation; by 2030 building new renewables will be cheaper than continuing to operate 96% of today’s existing and planned coal plants.

  • China could save $389 billion by closing plants in line with the Paris Climate Agreement instead of pursuing business as usual plans; the EU could save $89 billion; the US could save $78 billion; and Russia could save $20 billion.

Source: 42% of global coal power plants run at a loss, finds world-first study – Carbon Tracker Initiative

Let’s open with, “the US could save $78 billion.” Well, that’s clear. Yet, here we are in this weird political climate where finding a cheaper and cleaner solution is somehow politicized by a good chunk of the country. I don’t get it. Facts are facts.