A steep improve in coal plant growth in China offset a retreat from coal in the remainder of the world in 2020, ensuing within the first improve in international coal capability growth since 2015, in line with a brand new report led by Global Energy Monitor (GEM).
In whole, China was home to 85% of the 87.four gigawatts (GW) of proposed new coal vegetation in 2020, GEM stated in a press launch.
The report, Boom and Bust 2021: Tracking The Global Coal Plant Pipeline, is the seventh annual survey of the worldwide coal plant pipeline. A record-tying 37.eight GW of coal vegetation have been retired in 2020, led by the US with 11.three GW and EU27 with 10.1 GW. President Trump’s promised coal growth was a bust as US coal plant retirements throughout Donald J. Trump’s four-year time period rose to 52.four GW, exceeding the 48.9 GW retired throughout Barack Obama’s second time period.
China commissioned 38.four GW of recent coal vegetation in 2020, comprising 76% of the worldwide whole (50.three GW), Global Energy Monitor stated that exterior China, 11.9 GW was commissioned and, considering closures, the worldwide coal fleet exterior China declined by 17.2 GW in 2020 – the third 12 months in a row that coal energy capability exterior China shrank.
Outside China, the coal plant growth pipeline is collapsing in Asia, as Bangladesh, the Philippines, Vietnam, and Indonesia have introduced plans to chop as much as 62.Zero GW of deliberate coal energy. GEM estimates the insurance policies will go away 25.2 GW of coal energy capability remaining in pre-construction planning within the 4 nations—an 80% decline from the 125.5 GW deliberate there simply 5 years in the past, in 2015.
Globally, commissioning of recent vegetation fell to 50.three GW in 2020, a decline of 34% from 2019, as initiatives in growth struggled to acquire financing and plenty of initiatives have been delayed as a result of Covid-19 pandemic. In India, coal energy capability rose by simply 0.7 GW in 2020, with 2.Zero GW commissioned and 1.three GW retired.
New building begins fell 5% from 28.three GW in 2019 to 27.Zero GW in 2020. However, exterior of China, new building begins fell by 74%, from 21.1 GW in 2019 to five.5 GW in 2020.
“In 2020, we saw country after country make announcements to cut the amount of coal power in their future energy plans,” GEM’s Coal Program Director Christine Shearer stated. “We are very likely seeing the last coal plants in planning throughout most of the world.”
“Dozens of new coal power projects, equal to the total coal power capacity of Germany and Poland combined, were announced last year in China,” CREA’s lead analyst Lauri Myllyvirta stated, including that these initiatives are a key check of the nation’s pledge to peak emissions earlier than 2030 and reach carbon neutrality earlier than 2060. She pressured that cancelling them would put the nation on observe to the low-carbon growth the management says it desires to pursue.