Pledges by Southeast U.S. utilities to cut carbon won't exactly create a wave of plant shutdowns. By running uneconomic coal and building gas plants that will soon be uneconomic, utilities cost consumers millions and risk billions in stranded assets.
No country for old coal
Existing coal plants have become economically unjustifiable across the country, as shown in the recent “” report, which found local wind and solar could replace 74% of the existing U.S. coal fleet at an immediate savings to customers. But this issue is especially prevalent in the Southeast U.S., where nearly all plants are identified as"substantially at risk" or"at risk."
The marginal cost of energy in 2018 and 2025 for existing U.S. coal-fired power plants compared with building new wind or solar generation resources within 35 miles.at an all-in cost lower than that plant’s ongoing marginal costs. The economics are even worse in the bright red circles, where clean energy would be more than 25% cheaper than operating the coal plant.
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