As Donald Trump’s administration continues to try to make coal happen despite it being increasingly expensive and a serious tax on the environment, a new report claims that more than 40 percent of the world’s coal power plants are actually operating at a loss. It’s a figure that will only climb with increased regulation and carbon pricing as well as increasingly cheaper renewables like wind and solar power.
As Donald Trump’s administration continues to try to make coal happen despite it being increasingly expensive and a serious tax on the environment, a new report claims that more than 40 percent of the world’s coal power plants are actually operating at a loss. It’s a figure that will only climb with increased regulation and carbon pricing as well as increasingly cheaper renewables like wind and solar power.
Carbon Tracker, the London-based think tank behind the study, found that moving away from coal as a power source isn’t only a smart move for mitigating climate change but also one that makes sense economically. According to its findings, 42 percent of worldwide plants aren’t profitable as the result of steep fuel costs, and that figure could reach to more than 70 percent by 2040.
