Sun. May 26th, 2024

Power plant rule expected to speed shift away from coal

Tyler Mitchell By Tyler Mitchell May22,2024

The administration said Thursday that it will require coal plants and new gas plants to install carbon capture technology to mitigate 90 percent of the plant’s emissions — or find another way to achieve the equivalent climate protections.  But experts say that rather than try to meet these requirements, coal plants may just retire.  
“What we’ve seen, even without these rules, is that coal generation is falling,” Christopher Knittel, a professor of applied economics at MIT, said.  “These new rules will certainly push to speed that transition up,” he added. 
The Environmental Protection Agency’s analysis finds that the rule could speed up the amount of coal power that comes offline by nearly a quarter between the years 2028 and 2035. It projects that without the rule 84 gigawatts of coal power would have retired anyway during that period. But, under the rule, that number jumps to 104 gigawatts of power.  
Research firm BloombergNEF has similar findings for this decade.  
Industrial Decarbonization Specialist Julia Attwood said that her firm also projects significant impacts to the coal sector. She estimated that around 44 gigawatts of coal power was due to retire by the end of 2030 anyway, but the rule will cause an additional 30 to 40 gigawatts to go offline during that period.  The EPA projects that renewable power will be 4 percent greater than it would be without the rule in 2030, though that tapers off over the years as renewables also grow under the baseline scenario, meaning the rules will result in just 1 percent more renewable energy by 2040. Read more when a full report runs online this weekend at TheHill.com.

Tyler Mitchell

By Tyler Mitchell

Tyler is a renowned journalist with years of experience covering a wide range of topics including politics, entertainment, and technology. His insightful analysis and compelling storytelling have made him a trusted source for breaking news and expert commentary.

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One thought on “Power plant rule expected to speed shift away from coal”
  1. As a passionate advocate for environmental sustainability, I believe that these new rules are a crucial step towards reducing our reliance on coal and accelerating the shift to cleaner energy sources. The projections outlined in the article show that the power plant rule will have a significant impact on the coal sector, leading to the retirement of a substantial amount of coal power. This signals a positive direction in our efforts to combat climate change and promote renewable energy development.

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