800 coal-fired power plants to be replaced by solar installations by 2030

A study indicates that it would be financially viable to close more than 800 coal-fired power plants in emerging countries and replace them with solar installations by the end of the decade.

Today, some 2,000 gigawatts of coal-fired power plants generate 15.5 billion metric tons of carbon dioxide every year. According to the IEA(International Energy Agency), emissions must reach zero by 2040 to limit global warming to 1.5 degrees Celsius. However, closing coal-fired power plants represents a significant cost, especially when these facilities are still in debt or tied to long-term power purchase agreements.

Profitable transition opportunities

The Institute for Energy Economics and Financial Analysis (IEEFA) has identified over 800 coal-fired power plants in emerging countries that could be profitably closed down and replaced by solar installations by the end of the decade. Of these, around 600 were built more than 30 years ago and have already paid off their debt, while the remaining 200, built between 15 and 30 years ago, could also be profitably replaced.

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Source: Energy News

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