Report Finds Coal Power Investment Plummeting 75% Since 2015

[alexa]

A new report shows how more coal-fired plants were shut down as were approved, a reversal not seen since maybe the beginning of the Industrial Revolution began in England in the 19th century.
It is also undergoing one of the most dramatic retreats for a fuel resource in history according to a new International Energy Agency (IEA) investment report released this week. The intergovernmental agency, based in Paris, reported that companies around the world were reconsidering their planned investment in coal-powered energy generation in favor of alternative energy sources.
The Final Investment Decisions (FID) of investors worldwide reflected a 75% drop in commitment to investing in new coal plants over the last three years, capital investments that were directed to other energy resources like natural gas and renewables instead. In 2015, FIDs approved the construction on 88 gigawatts of coal-fired power plants, while last year this number fell to just 22 gigawatts.

What's more, the total gigawatts of coal-fired power plants that were decommissioned last year exceeded the gigawatts brought online through new coal plants, leading to a net decline of 30 gigawatts produced. Ever since the industrial revolution began, through expansions and recessions alike, the global consumption of gigawatts from coal-fired plants has only ever grown, year after year.
If the report is any indication, the trend of investment away from new coal-fired plants has been both rapid and substantial. While there will still be coal-fired plants for decades to come, the industry appears to be entering a terminal phase and soon all new investment will likely stop as the gigawatts generated by renewables and natural gas continue to fall in price relative to coal.
These resources are already at parity or even somewhat cheaper than coal as it is and while natural gas and especially renewables have an open road for further cost-reducing innovation, coal itself has become an exhausted commodity bereft of new ideas other than carbon capture, which can keep the dirty, inefficient coal-fired plants running for a little while longer at best, but even this technology is starting to make less and less economic sense.

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https://interestingengineering.com/r...-75-since-2015


Looks like the Dear Leader is doing for coal what he did for steel-nothing.

At least he's still King of Israel.

[FindersKeepers]

It's unfortunate coal is being slowly shut-down but it's been in the works for over a decade, since Obama said he'd "bankrupt" the fossil fuel industry. In reality, the costs to retrofit coal-fired plants makes it difficult to bring them up to emission standards.

The reason it's unfortunate is because coal is a "firm" source of energy that's very cost-effective (before retrofitting).

It's a mistake many will live to regret as they push "renewable" sources of energy, especially faulty "wind" and we continue to see increased blackouts. Just this past year, we've seen more major blackouts than we've seen in decades and it's only a matter of time before one strikes during either extreme heat or extreme cold, leaving vulnerable populations without the ability to warm or cool themselves.

But, yes, coal is dwindling.

[alexa]

It's unfortunate coal is being slowly shut-down but it's been in the works for over a decade, since Obama said he'd "bankrupt" the fossil fuel industry. In reality, the costs to retrofit coal-fired plants makes it difficult to bring them up to emission standards.

The reason it's unfortunate is because coal is a "firm" source of energy that's very cost-effective (before retrofitting).

It's a mistake many will live to regret as they push "renewable" sources of energy, especially faulty "wind" and we continue to see increased blackouts. Just this past year, we've seen more major blackouts than we've seen in decades and it's only a matter of time before one strikes during either extreme heat or extreme cold, leaving vulnerable populations without the ability to warm or cool themselves.

But, yes, coal is dwindling.

In reality, natural gas is cheaper and more efficient.

Bonus points for pulling in Obama, dear.

[FindersKeepers]

In reality, natural gas is cheaper and more efficient.

Not as cheap, but more efficient when it comes to reducing carbon emissions. Clean nuclear is probably the best all the way around, and if Biden gets his way, we'll see more of it.

Bonus points for pulling in Obama, dear.

Thanks, that's where it all started so it deserves a mention.

[MisterVeritis]

The Final Investment Decisions (FID) of investors worldwide reflected a 75% drop in commitment to investing in new coal plants over the last three years, capital investments that were directed to other energy resources like natural gas and renewables instead. In 2015, FIDs approved the construction on 88 gigawatts of coal-fired power plants, while last year this number fell to just 22 gigawatts.

"In 2015, FIDs approved the construction on 88 gigawatts of coal-fired power plants, while last year this number fell to just 22 gigawatts."

110 new GW worth of new coal-fired plants.

[Peter1469]

Troll thread.

And the troll picked up on the "media's" king bull $#@!.

So an intelligent person would shift this failed thread toward success.

Why is coal investment going down? Is efficiency increasing? Is another energy source supplanting it?

[Tahuyaman]

There's no issue as long as it's happening through free market forces and not through the force of government.

[alexa]

Troll thread.

And the troll picked up on the "media's" king bull $#@!.

So an intelligent person would shift this failed thread toward success.

Why is coal investment going down? Is efficiency increasing? Is another energy source supplanting it?

Post #3 covered that.

An intelligent person would have noticed.

Do carry on.

[Peter1469]

Post #3 covered that.

An intelligent person would have noticed.

Do carry on.

Congrats you answered my question. However that didn't address the first half of my post that called the tread a troll thread.

[Captdon]

Congrats you answered my question. However that didn't address the first half of my post that called the tread a troll thread.

We know he/she is a troll but he/she doesn't know.