Renewable energy likely to surpass coal as a power source
A clean energy transition is now in-progress.
In some months this year, coal’s 240 remaining gigawatts are expected to generate less electricity than the renewable energy from wind, solar, hydro, biomass, and geothermal sources. Over the next two years, renewable energy is projected to be the fastest-growing source for power generation. Years from now, it may surpass coal annually.
Power generation from coal declined from 45% in 2010 to 28% in 2018. The projection for 2020 is significantly less; just 24%.
Wind and solar costs continue to drop. Customers could save money even while most coal production is replaced with renewable sources. Many coal plants have reached their 40-60 years of estimated economic life. As repair and maintenance costs stack up, renewable power becomes a likely option.