Source: The post current state of global coal power has been created, based on the article “Express View: Problem with coal” published in “Indian express” on 13th April 2024.
UPSC Syllabus Topic: GS Paper 3-Environment – Conservation, environmental pollution and degradation
For details information on Coal-based Power Generation read here
News: The article discusses the global challenge of reducing coal use in power plants to fight climate change. It highlights the increasing number of coal plants in China and India and the slow decommissioning of such plants in the U.S., which is hindering efforts to meet climate goals.
What is the current state of global coal power?
Global Coal Power Increase: Global coal-fired power capacity grew by 2% last year, marking the highest annual increase since 2016.
China’s Commitment and Progress: China has pledged to retire 30 GW by 2025 but added two-thirds of the world’s new coal plants in the past year, significantly boosting its capacity.
US Deceleration: The U.S. decommissioned only 9.7 GW of coal power in 2023, down from 14.7 GW the previous year. The US Energy Information Administration estimates a 10 per cent reduction in coal use by 2025.
Retirement Goals: To phase out current coal capacity by 2040, the world needs to retire an average of 126GW of coal power plants annually for the next 17 years. However, only a sixth of this target was achieved last year.
What are the challenges in transitioning to green energy?
Economic Constraints: Emerging economies like India face the challenge of balancing coal phase-out with poverty alleviation and employment, as the coal sector is a major employer.
Insufficient Decommissioning: Globally, coal power decommissioning is not keeping pace with targets, with only a fraction of the necessary 126 GW retired annually.
Technological and Financial Barriers: The adoption of carbon capture technologies is limited due to high costs. Financial support from developmental finance institutions is crucial but currently inadequate.
Mismatched Growth: The expansion of renewable energy does not yet match the rising electricity demand in many countries, hindering the transition to greener alternatives.
Way forward
To advance the green transition, increased investment in renewable energies is necessary. Financial institutions must support technologies like carbon capture. Policies should encourage the decommissioning of coal plants to meet the global target of 126 GW annually and align with the Paris Climate Pact goals.
Question for practice:
Explain how the slow pace of decommissioning coal power plants impacts the ability to meet global climate targets.
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