For the third year in a row, the number of coal-fired power plants under development worldwide dropped steeply in 2018. Clean, renewable energy solutions like wind and solar continue to outpace outdated fossil fuels. Coal is on its way out.
This report by Global Energy Monitor, Greenpeace India, and the Sierra Club is the fifth annual survey of the coal plant pipeline. Its findings include a 20% drop in newly completed coal plants (53% in the past three years), a 39% drop in new construction starts (84% in the past three years), and a 24% drop in plants in pre-construction activity (69% over the past three years) year-on-year.
The report is clear: emissions from currently operating coal plants, utilized at an average rate and lifetime are too high to hold global warming to 1.5°C or 2°C. This needs to be a wake-up call – investors should plan for their exit, while increasing their investments in solutions.
