It’s finally happening. Renewable energy will surpass coal in 2021. For decades, coal has been the main source of electricity generation in the United States, but it has been on the decline for the last couple of years.
Only recently was coal dethroned by natural gas, a cleaner, and more efficient fossil fuel. And now it will begin losing to solar, wind, and hydro. However, this should come as little surprise since renewable energy is now cheaper than coal.
On top of it being more expensive, it also emits large quantities of carbon dioxide when burned. Which is exactly why many countries are trying to ditch it.
Thus, it does not only make economic sense to get rid of coal but also environmental sense.
Companies Are Voluntarily Switching to Renewable Energy
Just about every company in the world is under attack for environmental concerns. And this is no exception for power companies.
Many utilities have already made pledges to either go carbon-free or to heavily invest into more solar and wind farms. Just this year, Con Edison has invested over 2.1 billion into solar and wind projects.
Coal simply can’t exist for these companies to meet those kinds of pledges.
Coal Plants Are Closing
Regardless of how much effort has been put into saving coal, there simply is no saving an inferior and more expensive fuel. Just this year, two of the largest coal plants in the United States have shut down and more are expected in the future.
On top of this, Murray Energy, the largest private coal mining company in the country, has declared bankruptcy. The writing is on the wall; coal is disappearing and being replaced with cleaner and cheaper energy.