Business Daily
Coal vs coronavirus
May 15, 2020
Head of IEA and coal analyst discuss coal's decline during lockdown due to excess supply switching off coal plants, while India embraces cheaper renewable energy. Discussion on China's ongoing coal projects. Professor explains coal's role in Industrial Revolution.
18:32
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Quick takeaways
- Renewable energy is now economically competitive with coal, especially in countries like India.
- Countries like China continue to invest in coal despite renewable energy proving to be cost-effective and sustainable.
Deep dives
Impact of Covid-19 on Coal Industry
The coronavirus pandemic has significantly impacted the global energy demands, revealing vulnerabilities in the coal industry. With a major decline in energy consumption, some believe that renewable energy has now become a more economically viable option compared to coal. Renewable energy sources like wind, solar, and hydropower are proving to be cost-effective alternatives, providing power as cheap as or even cheaper than coal, especially in countries like India.
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