Renewables are already cheaper than new coal-fired power stations in all major markets, exposing almost a trillion dollars of new investments and denting Australia's coal exports.
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| New coal fired-plants are already more expensive than renewable energy in all major markets - and by 2030 even existing coal plants will be uncompetitive, a new report finds. |
Analysis published on Thursday by Carbon Tracker also found that by 2030 at the latest, new wind and solar farms will be cheaper to build than existing coal plants.
The survey, which tapped International Energy Agency data among its sources, also found more than half of coal-fired power stations were more costly to run than building new renewable energy.
Globally, developers are planning or constructing almost 500 giga-watts of coal capacity at a cost of $US638 billion ($984 billion), investments that could soon be wasted.
Read the story from The Age by Peter Hannam - “Renewables to make $1 trillion in new coal-fired plants uncompetitive.”
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