I started the week with a “good news” post and figured I’d bookend it with another.
This may surprise some, but globally, coal remains the primary fuel for power generation. Estimates are that this singular source is responsible for 40% of global emissions. That’s why eliminating it is essential to curtailing carbon emissions.
That isn’t the good news.
The good news is that after decades of coal reliance the curve may finally be heading in the right direction. According to Rystad Energy coal-fired power generation will soon peak. Peaking is not declining, but you have to start somewhere.
Globally, the elimination of coal is not uniform. Generally, more advanced economies like Europe and the U.S. are well on their way to ending coal use. On the flip side Asia - China India, and Indonesia - are still adding coal capacity. China and India are #1 and #2 in terms of carbon emission from coal and account for 66% of global coal emissions.
The reason: cost and connectivity. Despite the renewable energy industry insisting that it has reached price parity I don’t believe that economic parity is ubiquitous. Nor is the ability to install and connect renewables to the grid.
Eliminating coal completely requires a global effort to change these dynamics for countries in all stages of economic development.
#coal #rystadenergy #powergeneration #carbonemissions #powergeneration