According to a new report indicators of coal power capacity growth declined in 2018, including construction starts, pre-construction activity, and plant completions, which means the number of coal-fired power plants being developed around the world has collapsed in the past three years.
Data released by the Global Energy Monitor indicates the number of plants on which construction has begun each year has fallen by 84 per cent since 2015, and 39 per cent in 2018 alone, while the number of completed plants has dropped by more than half since 2015.
Using information from the Global Coal Plant Tracker the report, from the NGO-backed Global Energy Monitor, said the falling costs of renewable energy were pricing coal out of the electricity market.
It added that more than 100 financial institutions had blacklisted coal producers, and political action to cut carbon emissions was growing.
The report also warned of a possible coal plant resurgence in China, where satellite photos show developers have restarted work on dozens of suspended projects.
Coal plant retirements had continued at a record pace, the report found, with the United States accounting for more than half of the total despite efforts by the administration of President Donald Trump to prevent the closure of ageing plants.
A separate report this week found that three quarters of existing US coal-fired electricity production was now more expensive than new solar and wind energy.
China and India have accounted for 85 per cent of new coal power capacity since 2005, according to the Global Energy Monitor report.
China permitted construction for the generation of less than five gigawatts (GW) of coal power in 2018, compared with 184GW in 2015.
India permitted less than 3.0GW in 2018, compared with 39GW in 2010.
India has added more solar and wind power capacity than coal over the past two years.
However, data from the International Energy Agency published on Tuesday found that global carbon emissions rose in 2018, with a young fleet of coal plants in Asia accounting for a third of the increase.
The World Coal Association said in a statement: “As the largest source of electricity generation, coal will continue to be a critical enabler of development.
“For many countries, particularly in south and south-east Asia, it underpins economic development.
“We must respect and support them in their choice and fund low emissions technologies.”
However, the best modern coal plants are still significantly more polluting than even gas plants.
Lauri Myllyvirta, of Greenpeace, said: “Another coal power construction spree in China would be near impossible to reconcile with the emission reductions needed to avoid the worst impacts of global warming.”
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