Free Market Forces Will Obliterate Global Coal Reliance Within 10 Years, Says Study

Article Link: https://www.goodnewsnetwork.org/study-says-free-market-will-end-coal-reliance-in-a-decade/

Discussion posted by: David McNamara

Contrary to the image of greedy fossil fuel billionaires lobbying politicians for favors, it is now the free market, not world governments, that are doing the most to advance the use of clean renewable energy. In the most basic sense, it is no longer a lucrative business path to invest in carbon emission-heavy sources. Today, investing in coal projects is more expensive—across all world energy markets—than renewables. In as little as 10 years, it will be cheaper to build renewables than to run coal power resources, much less build new ones. How much more expensive? Right now, the report estimates that the cost of operating and investing in coal—not in Europe, but in the U.S., India, and China—is about 50% more expensive than renewables.