{"id":40271,"date":"2020-06-03T07:53:07","date_gmt":"2020-06-02T21:23:07","guid":{"rendered":"https:\/\/www.solarquotes.com.au\/blog\/?p=40271"},"modified":"2020-06-03T07:53:07","modified_gmt":"2020-06-02T21:23:07","slug":"irena-renewables-coal-mb1549","status":"publish","type":"post","link":"https:\/\/www.solarquotes.com.au\/blog\/irena-renewables-coal-mb1549\/","title":{"rendered":"Coal Power Environmentally *And* Economically Unjustifiable: IRENA"},"content":{"rendered":"

\"Renewable<\/p>\n

The case for new and much of existing coal power generation capacity is environmentally and economically unjustifiable says the International Renewable Energy Agency (IRENA).<\/p>\n

In 2021, up to 1,200 gigawatts of existing coal power capacity could cost more to operate than new utility-scale solar power costs to install states a new report from the agency.<\/p>\n

IRENA’s Power Generation Costs In 2019 report indicates more than half of the renewable capacity that was added last year achieved lower electricity costs than new coal power, while new solar and wind projects are also undercutting the cheapest and least sustainable (i.e. the dirtiest) existing coal-fired plants.<\/p>\n

The analysis draws on information relating to 17,000 renewable power generation projects around the world (including Australia) and data from 10,700 auctions and renewables power purchase agreements (PPAs).<\/p>\n

Renewable electricity costs have plummeted over the past decade. For example, the report states since 2010 the cost of utility-scale solar energy has dropped 82%. Just last year, electricity costs from utility-scale solar PV fell 13% to a global average of USD 6.8 cents per kilowatt-hour (kWh) – that works out to around AUD 9.86c per kilowatt hour at the current exchange rate.<\/p>\n

“Auction results show these favourable cost trends accelerating, reinforcing the case to phase-out coal entirely,” states the report.<\/p><\/blockquote>\n

Francesco La Camera, Director-General of IRENA, says the world has reach an important turning point in the energy transition.<\/p>\n

“Renewables must be the backbone of national efforts to restart economies in the wake of the COVID-19 outbreak,” he said<\/a>. ” With the right policies in place, falling renewable power costs, can shift markets and contribute greatly towards a green recovery.\u201d<\/p><\/blockquote>\n

IRENA states if the costliest 500 GW of existing coal power capacity were replaced by solar energy and wind power, it would translate to annual potential savings of USD $23 billion and avoid 1.8 gigatonnes (that’s 1.8 *billion* tonnes) of greenhouse gases a year – equivalent to 5% of total global CO2 emissions last year.<\/p>\n

Australian Figures<\/h2>\n

With regard to Australia specifically, the report states weighted-average cost of electricity from utility-scale solar PV between 2010 and 2019 fell by 78% and the total installed cost of these clean power stations fell 82%. Between 2013 and 2019, the price of solar panels in Australia dropped 63%.<\/p>\n

Residential PV gets a mention in the report as well, with the document noting the cost of solar in Australia<\/a> dropping 73% between 2010 and 2019. For commercial solar<\/a>, costs dropped by around half between 2014 and 2019.<\/p>\n

IRENA’s full Power Generation Costs In 2019 report can be accessed here<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

The case for new and much of existing coal power generation capacity is environmentally and economically unjustifiable says the International Renewable Energy Agency (IRENA).<\/p>\n","protected":false},"author":17,"featured_media":40272,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[678],"tags":[],"class_list":["post-40271","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-solar-battery-news","entry"],"acf":[],"yoast_head":"\nCoal Power Environmentally *And* Economically Unjustifiable: IRENA<\/title>\n<meta name=\"description\" content=\"The case for new and much of existing coal power 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In the October 2018 Fairfax Ipsos Poll, those surveyed were asked the question: \"When thinking about energy policy, which of the following do you think should be the main priority\u2026","rel":"","context":"In "General Solar & Storage News"","block_context":{"text":"General Solar & Storage News","link":"https:\/\/www.solarquotes.com.au\/blog\/category\/solar-battery-news\/"},"img":{"alt_text":"Energy priority views in Australia - Poll","src":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2018\/11\/energy-views-australia.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2018\/11\/energy-views-australia.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2018\/11\/energy-views-australia.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2018\/11\/energy-views-australia.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":27123,"url":"https:\/\/www.solarquotes.com.au\/blog\/australia-renewable-superpower-mb0898\/","url_meta":{"origin":40271,"position":3},"title":"Geopolitical Consequences Of The Transition To Renewables","author":"Michael Bloch","date":"January 15, 2019","format":false,"excerpt":"A recently published report states a new energy age will reshape relations between states and regions around the world. This presents dangers and opportunities for Australia. Released at last week's Assembly of the International Renewable Energy Agency (IRENA), the report was produced by the Global Commission on the Geopolitics of\u2026","rel":"","context":"In "General Solar & Storage News"","block_context":{"text":"General Solar & Storage News","link":"https:\/\/www.solarquotes.com.au\/blog\/category\/solar-battery-news\/"},"img":{"alt_text":"Energy transformation report","src":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2019\/01\/energy-transformation.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2019\/01\/energy-transformation.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2019\/01\/energy-transformation.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2019\/01\/energy-transformation.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":17632,"url":"https:\/\/www.solarquotes.com.au\/blog\/nab-coal-renewables-mb0367\/","url_meta":{"origin":40271,"position":4},"title":"NAB Ends Coal Mine Financing, Creates New Renewables Portfolio","author":"Michael Bloch","date":"December 15, 2017","format":false,"excerpt":"National Australia Bank announced yesterday funding for new thermal coal mining projects was now off the table and a Low Carbon Shared Portfolio, a new way for institutional investors to back renewable energy projects. In announcing its stance on coal, the company said it realised it had important role to\u2026","rel":"","context":"In "General Solar & Storage News"","block_context":{"text":"General Solar & Storage News","link":"https:\/\/www.solarquotes.com.au\/blog\/category\/solar-battery-news\/"},"img":{"alt_text":"National Australia Bank - Renewables vs. coal","src":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2017\/12\/coal-renewables-funding.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2017\/12\/coal-renewables-funding.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2017\/12\/coal-renewables-funding.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2017\/12\/coal-renewables-funding.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":46576,"url":"https:\/\/www.solarquotes.com.au\/blog\/florida-coal-fpl-mb1841\/","url_meta":{"origin":40271,"position":5},"title":"End Of An Era For FPL Coal Power In Florida","author":"Michael Bloch","date":"January 15, 2021","format":false,"excerpt":"The USA's largest electricity gentailer, Florida Power & Light, has closed down its last coal fired power station in the state. FPL announced yesterday the Indiantown Cogeneration Plant was closed for good on January 1. FPL purchased the plant back in 2017 with the express intention of shutting it down.\u2026","rel":"","context":"In "General Solar & Storage News"","block_context":{"text":"General Solar & Storage News","link":"https:\/\/www.solarquotes.com.au\/blog\/category\/solar-battery-news\/"},"img":{"alt_text":"Coal power in Florida","src":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2021\/01\/coal-power-florida.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2021\/01\/coal-power-florida.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2021\/01\/coal-power-florida.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2021\/01\/coal-power-florida.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2021\/01\/coal-power-florida.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/posts\/40271","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/users\/17"}],"replies":[{"embeddable":true,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/comments?post=40271"}],"version-history":[{"count":3,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/posts\/40271\/revisions"}],"predecessor-version":[{"id":40275,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/posts\/40271\/revisions\/40275"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/media\/40272"}],"wp:attachment":[{"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/media?parent=40271"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/categories?post=40271"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/tags?post=40271"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}