Renewables Outshine Coal: Report Reveals Transition to Clean Energy Could Save Communities Billions

The Inflation Reduction Act (IRA) has greatly impacted the future of coal as a source of energy in the US.

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According to a report, all 210 coal facilities in the US would be more cost-effective to replace with renewable energy options.

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The IRA has altered the economics of solar in coal communities, with the median cost of new solar being roughly $24/MWh and the median marginal cost of coal being approximately $36/MWh.

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The end of the coal era is rapidly approaching. Replacing coal with new solar sources could result in substantial financial benefits for communities.

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Communities could see up to $589 billion in clean energy investments and eliminate energy stability concerns by transitioning to local solar.

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The replacement of coal with local renewable resources could finance the installation of 137 GW of four-hour battery storage.

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Coal is no longer cost competitive with renewables, debunking the notion that coal will continue to be a dominant source of energy.

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The decline of coal as an energy source in the US has been steadily decreasing, with renewable energy surpassing coal in terms of electricity generated in 2020.

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Policymakers must take action to overcome barriers to the transition to clean energy, utilize available funds from the IRA, and encourage coal communities to use clean energy for larger economic transitions.

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