Coal Plants an Alternative to Boost Clean Energy Transition

By Shubhendra Anand , 23 October, 2024

In the era of clean energy transition, solar energy gains momentum in the energy market. Renewables aim to replace fossil fuels by the end of this decade. However, it is essential to note that transformation in the energy sector requires heavy investment. Globally, nations are planning for a rapid shift in the energy sector and implementing the setup of renewable plants. Increasing renewable energy production will help in a robust clean energy transition. A recent survey by Energy Economics and Financial Analysis (IEEFA) in 2024 shows that solar power replaces more than 800 coal-fired power plants.

Solar energy is dependent on the region's climatic conditions. Additionally, investment in solar-powered plants and substations is required to transfer power. Solar panels in the household tend to increase renewable acceptance faster. It is difficult to erase the use of coal at a faster pace. Most prominently in developing nations, coal plays a pivotal role. Since constant electricity is an asset for countries, most electricity is produced from coal. Electricity generation from renewables like wind and solar is in progress. However, it may take time, and coal power plants cannot be eliminated in the energy sector. Data from surveys shows that globally, 774 million people live without electricity. Hence, coal is a promising energy source for these economies to generate electricity. It is practically impossible to eliminate coal from the energy sector.                   

It is reported that coal generates 35 percent of the power supply globally. Therefore, planning to convert 800 coal plants into clean energy production will boost the transition. However, it is just 1 percent of the whole energy transition for climate change. According to IEEFA, the selected 800 pipelines are over 30 years old. Hence, these are free from power purchase agreements and can economically be used for clean energy transition. Therefore, this alternative can restore power and boost the transition to clean energy. These coal plants can be used for solar and wind energy production. Hence, it will enhance the transformation process. The developed economies have the potential to boost work. However, developing economies may face challenges in this process. Moreover, developed economies have promised to support developing and poor economies with funding for clean energy transition. Thus, kickstarting clean energy production in the 800 coal plants will significantly help the energy sector.     

       Electricity generation from solar and wind sources compared to coal till 2023