The speed at which carbon neutral power generation is coming online is it celebrating at such a rate that even coal mines currently in use are more expensive sources of power than solar and wind energy.
The latest reminder of this, is the largest active coal mine in the world-which happens to reside in America has just had its value downgraded by 1.4 billion dollars.
8 of the 10 largest coal mines in America reside in this one valley. However the rate at which the demand for coal was dropping is astounding. The Second quarter last year gave their the biggest profit ever, yet the same quarter this year they made a loss of over 1.5 billion.
It is true that there are other causes for this decline, but with the reduction in the demand for coal,the decline caused by coronavirus to the coal industry made proved to be more permanent than once thought.
Increasing numbers of clean electricity sources are coming online, and while a decade ago eradicating col would have caused the world’s significant problems, they’re on our multitude of alternative options. The time is right to stop burning things for electricity particularly cold.
