The planet is warming, dangerously so, and burning more coal will make it worse. President-elect Donald Trump thinks man-made climate change is a hoax and he’s promised to revive the US coal industry by cutting regulation. So renewables are dead in the water, right? Maybe not. President Trump can’t tell producers which power generation technologies to buy. That decision will come down to cost in the end. Right now coal’s losing that battle, while renewables are gaining. Trump will doubtless try to undermine the Environmental Protection Agency’s Clean Power Plan (CPP), which obliges states to cut fossil power carbon emissions. That would probably keep more coal plants open for longer. But, try as he might, Trump can’t will the coal industry back to health. It will still struggle to compete with cheap natural gas, as Gadfly colleague Liam Denning explained here. Even without the CPP, about 60 gigawatts of coal-fired generating capacity will probably be retired by 2030. On the same basis, renewable capacity would still be expected to grow more than 4 percent a year until 2040, according to the U.S. Energy Information Administration, meaning they’d have a 23 percent share of generation.
Bloomberg 9th Nov 2016 read more »