Across the United States, economics are increasingly favoring investment in renewable energy at the expense of dirty coal energy. As the price of solar dips below coal and even natural gas in some instances, the domestic demand for coal wanes and a growing number of companies are eager to get out of their investments in aging coal plants that cost more than they’re worth to upgrade and, in a growing number of instances, just to keep running.
As the nation’s coal power plants age, they become more expensive to maintain. The costs associated with making long-term investments in an aging coal plant, including replacing breaking parts and upgrades like scrubbers and other pollution controls, often exceeds the economic viability of coal in the long-term. Meanwhile, the natural gas prices remain low, ample wind and solar energy provides cost-effective alternatives, and energy efficiency, always the lowest-cost resource, reduces demand. Further public health protections and the first federal standards limiting carbon pollution from power plants—a key driver of climate change—are also on the horizon, all making dirty coal a shaky investment proposition.