China ‘can save $1.6 trillion by scrapping coal’, report says

China 'can save $1.6 trillion by scrapping coal', report says
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Getty Images Coal-fired power stations are still a major part of China’s energy production China can save up to $1.6 trillion (£1.2 trillion) over 20 years by switching from coal power to renewables, a report says. The authors say China must close 588 coal-fired power plants in a decade to meet climate pledges – but they insist the move will save cash. That’s because renewables are now so much cheaper than coal. It mirrors the situation in the US, where coal tumbled from being the cheapest major fuel to the most expensive. China is currently running 1,058 coal plants – more than half the world’s capacity. US envoy Kerry woos China over climate Delaying climate meeting ‘preferable to failure’ World’s wealthiest ‘at heart of climate problem’ The authors of the report from the climate think tank, TransitionZero, say to meet its stated goal of becoming "carbon neutral" by 2060, China must take radical action now. China has announced it’s building five new nuclear stations to supply clean power – and President Xi has announced he will join a French-German climate summit on Friday. It’s also the world leader in wind turbines and solar panels. EPA US envoy on climate […]

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