Europe is getting off coal even faster than expected

Across Europe, countries are making strides toward a fossil-free future. In April, Austria and Sweden closed their last coal plants—the latter nearly two years ahead of schedule—officially eliminating coal from their countries’ energy production.

In total, 15 European countries have committed to exiting coal and have put necessary plans and measures in place, Gutmann says, but there’s still a concern, she adds, about whether or not the remaining coal-powered fleet will go offline fast enough to limit global warming to 1.5 degrees Celsius.

The current COVID-19 pandemic and the world’s precarious economic situation may actually help toward that goal. Across the world, it’s become cheaper to invest in renewable energy than in coal, and many experts think the coronavirus pandemic will reinforce the importance of a renewable-powered future, especially as leaders look for ways to bounce back better while stimulating economic growth.

Source: Energy Market Price

Author: Kirsi Seppänen