The best of EcoWatch, right in your inbox. Sign up for our email newsletter!
Wind and Solar Power Will Soon Be Cheaper Than Coal Globally, New Research Shows
A new report shows that investments in coal plants may be a waste of money as renewables are cheaper than new coal plants, according to new research from the financial think tank Carbon Tracker Initiative.
The new research, released today, shows that nearly $640 billion of investment in coal power capacity worldwide is at risk because it is less expensive to generate electricity from wind and solar power, as Reuters reported.
The report also found that more than 60 percent of global coal power plants are generating electricity at a higher cost than it could be produced by building new renewables. The researchers found that by 2030, at the latest, it will be cheaper to build new wind or solar capacity than continue operating with coal, according to a statement from the Carbon Tracker Initiative.
Right now, in all major markets, including the U.S., Europe, China, India and Australia it is cheaper to invest in renewables, according to The Independent. The report casts doubt on the future of the many countries who have investments in coal, including Australia's $26 billion thermal coal export industry, as The Guardian reported.
The authors of the report suggested the report should be a signal to policy makers to shift their priorities toward investments in renewables.
"Renewables are outcompeting coal around the world and proposed coal investments risk becoming stranded assets which could lock in high-cost coal power for decades," Matt Gray, Carbon Tracker co-head of power and utilities and co-author of the report, said in a statement. "The market is driving the low-carbon energy transition but governments aren't listening. It makes economic sense for governments to cancel new coal projects immediately and progressively phase out existing plants."
Despite the economic reality and the environmental impact of coal, many governments around the world are artificially propping up coal power with incentives and underwriting new plants. Governments are either giving subsidies to the industry or passing the cost down to consumers, as The Guardian reported.
The report found that a country like Japan, which invests heavily in coal power, is wasting its money. As The Guardian reported, in Japan, wind power costs less than new coal plants and is expected to be cheaper than existing coal by 2028. Solar power in Japan is forecast to outperform new coal plants by 2023 and existing coal by 2026.
The story was the same for China, which relies on a tremendous amount of coal power, and for South Korea. The report found that wind power is already cheaper than coal in China, and solar power will be cheaper by the end of this year. In South Korea, renewables will be cheaper than coal in two years, according to The Guardian.
Institutional investors have started to run away from coal since it is not returning the profits it once did. Furthermore, the capital recovery period for new investments in coal plants is usually 15 to 20 years, making it a risky investment when cleaner, cheaper and more efficient power generation is starting to flood the market, as Reuters reported.
Reuters also noted that ditching coal is a mandatory step to putting a stop to global heating. According to a major UN report in 2018, the share of coal power in electricity generation needs to fall to under 2 percent by 2050 for global warming to stay within a 1.5 degree Celsius limit.
The new report echoed the UN's findings, noting that keeping global warming within a 1.5 degree Celsius limit, to avoid the worst impacts of the climate crisis, means coal use to generate electricity will have to fall by 80 percent from 2010 to 2030 around the world. Essentially, one coal plant has to shut down every day until 2040, the report said, as The Independent reported.
The Carbon Tracker report found that if the coal market were deregulated, market forces would drive it out of existence, as renewable energy developers would capitalize on the growing price gap.
- Significant Renewable Energy Growth in U.S. Very Soon, New ... ›
- America Enters 'Coal Cost Crossover' as Solar and Wind Are Now ... ›
- Still Cheaper Than Coal: A Report on the Economics of Solar Power ... ›
EcoWatch Daily Newsletter
'How Dare You Put Our Lives at Risk': Pennsylvania Democrat Brian Sims Rips GOP Members for 'Coverup' of Positive COVID-19 Tests
Brian Sims, a Democratic representative in the Pennsylvania legislature, ranted in a Facebook Live video that went viral about the hypocrisy of Republican lawmakers who are pushing to reopen the state even though one of their members had a positive COVID-19 test.
- Partisan Differences in Social Distancing during the Coronavirus ... ›
- COVID-19 Is Turning Into a Partisan Battle, Too: The Politics Daily ... ›
- Coronavirus in US: Partisanship is the strongest predictor of public ... ›
- Pennsylvania Republicans Want Prosecutors To Investigate State ... ›
- Philly Democrat Brian Sims sparks firestorm after posting videos of ... ›
In another reversal of Obama-era regulations, the Trump administration is having the National Park Service rescind a 2015 order that protected bears and wolves within protected lands.
- Wildlife Advocates Celebrate: Romania Bans Trophy Hunting ... ›
- Father and Son Charged With Killing Mother Bear and 'Shrieking ... ›
- Trump Admin. Wants to Reinstate 'Cruel' Hunting Tactics in Alaska ... ›
By Linda Lacina
World Health Organization officials today announced the launch of the WHO Foundation, a legally separate body that will help expand the agency's donor base and allow it to take donations from the general public.
<iframe width="100%" height="150" scrolling="no" class="rm-shortcode twitter-embed-1265660879669886976" id="twitter-embed-1265660879669886976" lazy-loadable="true" src="/res/community/twitter_embed/?iframe_id=twitter-embed-1265660879669886976&created_ts=1590592043.0&screen_name=WHO&text=Media+briefing+on+%23COVID19+with+%40DrTedros+https%3A%2F%2Ft.co%2Fj5ZoeBdBvO&id=1265660879669886976&name=World+Health+Organization+%28WHO%29" frameborder="0" data-rm-shortcode-id="16f209220db97fa1572877a1700956f5"></iframe>
Henry J. Kaiser Family Foundation
By Nicholas Joyce
The coronavirus has resulted in stress, anxiety and fear – symptoms that might motivate a person to see a therapist. Because of social distancing, however, in-person sessions are less possible. For many, this has raised the prospect of online therapy. For clients in need of warmth and reassurance, could this work? Studies and my experience suggests it does.
Telehealth Versus Traditional Therapy<p><a href="https://www.cigna.com/hcpemails/telehealth/telehealth-flyer.pdf" target="_blank">Private insurance companies</a> like Cigna and Aetna, have come around; they now provide coverage for what they see as a "legitimate" service. And <a href="https://www.prnewswire.com/news-releases/american-wells-2019-consumer-survey-finds-majority-of-consumers-open-to-telehealth-adoption-continues-to-grow-300906438.html" target="_blank">surveys show</a> consumers are receptive to telehealth counseling: no driving to an appointment, no searching for a parking space, no worries about childcare while they're away, no need to switch providers if they move, and no problem if the specialist happens to be far away.</p><p>Online therapy opens doors for clients who wouldn't otherwise seek help, <a href="https://www.worldcat.org/title/empirical-examination-of-the-influence-of-personality-gender-role-conflict-and-self-stigma-on-attitudes-and-intentions-to-seek-online-counseling-in-college-students/oclc/941976505" target="_blank">particularly patients</a> who feel stigmatized by therapy or intimidated by a stranger sitting across the room from them. Often, <a href="https://doi.org/10.1089/1094931041291295" target="_blank">people open up</a> more easily in telehealth sessions. Firsthand accounts have detailed <a href="https://www.romper.com/p/i-tried-online-therapy-for-a-month-this-is-what-happened-13630" target="_blank">positive experiences from consumers</a>.</p>
Overcoming Prejudices About Online Counseling<p>Now COVID-19 is forcing most traditional psychotherapists to adapt their practice to <a href="https://www.psychologytoday.com/intl/blog/expressive-trauma-integration/202003/covid-19-etherapy-in-times-isolation" target="_blank">online counseling</a>. After experiencing the medium, they are <a href="https://www.wecounsel.com/blog/why-every-therapist-in-private-practice-needs-a-telehealth-option/" target="_blank">overcoming their prejudices</a>. Many will convert some or all of their caseloads to telehealth after the pandemic ends. Most of our clients seem to be good with it: responding to a satisfaction survey, 85% of USF students strongly or somewhat agreed their telehealth experience was comparable to an in-person visit.</p><p>All this allows a continuity of care for clients that before was impossible; there is, however, a caveat. Because of the coronavirus, some of my clients at USF who live out-of-state have moved back home. That means, legally, I can no longer serve them. Even though they are still USF students, my license is valid only in Florida.</p><p>For telehealth to work effectively, our national system of licensing and regulation law needs to adapt. Although the federal government temporarily halted HIPAA regulations to promote telehealth during this time, not all states are allowing out-of-state practice. The coronavirus may not be here forever, but spring break and Christmas holidays always will. We need seamless telehealth across state lines.</p>
- How to Deal With Cabin Fever - EcoWatch ›
- 75,000 American Deaths Predicted From Overdose and Suicide ... ›
As many parts of the planet continue to open their doors after pandemic closures, a new pest is expected to make its way into the world. After spending more than a decade underground, millions of cicadas are expected to emerge in regions of the southeastern U.S.
Kevin Frayer / Stringer / Getty Images
By Jessica Corbett
Even after the world's largest economies adopted the landmark Paris agreement to tackle the climate crisis in late 2015, governments continued to pour $77 billion a year in public finance into propping up the fossil fuel industry, according to a report released Wednesday.
<iframe width="100%" height="150" scrolling="no" class="rm-shortcode twitter-embed-1265623289118015492" id="twitter-embed-1265623289118015492" lazy-loadable="true" src="/res/community/twitter_embed/?iframe_id=twitter-embed-1265623289118015492&created_ts=1590583080.0&screen_name=envirodefence&text=New+research+from+%40PriceofOil+%26amp%3B+%40foe_us+shows+Canada+has+the+2nd+highest+public+finance+for+fossil+fuels+in+the+G20%E2%80%A6+https%3A%2F%2Ft.co%2FCC21WVmLhZ&id=1265623289118015492&name=EnvironmentalDefence" frameborder="0" data-rm-shortcode-id="3a8dab253abb0ab96502809508dffa35"></iframe>
<iframe width="100%" height="150" scrolling="no" class="rm-shortcode twitter-embed-1265668484349992961" id="twitter-embed-1265668484349992961" lazy-loadable="true" src="/res/community/twitter_embed/?iframe_id=twitter-embed-1265668484349992961&created_ts=1590593856.0&screen_name=PriceofOil&text=%F0%9F%93%96New+Report%F0%9F%93%96%3A+As+%23G20+governments+spend+historic+levels+of+public+finance+on+%23COVID19+stimulus%2C+our+new+report+w%2F%E2%80%A6+https%3A%2F%2Ft.co%2Fbw8awZru86&id=1265668484349992961&name=Oil+Change+International" frameborder="0" data-rm-shortcode-id="4c26ee7a9cd92203449579ca4aa553e7"></iframe>
- Fossil Fuel Firms With Ties to Trump Administration Get Small ... ›
- Taxpayers Charged $7 Billion a Year to Subsidize Fossil Fuels on ... ›
- Government Subsidizes Fossil Fuel Industry With $20+ Billion in ... ›
Twenty-three states and Washington, DC launched a suit Wednesday to stop the Trump administration rollback of Obama-era fuel efficiency standards for cars and light trucks.
- Trump Dismantles Environmental Protections Under Cover of ... ›
- Trump Admin Goes After States for Protecting the Environment ... ›
- Justice Department Drops Investigation Against Four Automakers ... ›
- Trump Expected to Announce Weakened Fuel Efficiency Rules ... ›