Renewable energy has surpassed coal as the more economically viable option for power generation in the US, according to a recent analysis.
The study, conducted by Energy Innovation, found that it is now more expensive for 99% of the country’s coal-fired power plants to continue operating than to build a new wind or solar energy facility in the same region.
This shift is largely due to the plummeting costs of renewable energy, which have been accelerated by the Inflation Reduction Act. While coal will not disappear overnight, analysts predict that the trend towards renewables will eventually end the era of coal power in the US, creating new economic opportunities and increasing energy security.
