It’s Now Cheaper to Switch From Coal to Renewables Instead of Coal to Gas, Report Shows

Chile has set an ambitious target to convert 70% of its total energy consumption to renewables by 2030 and become carbon neutral by 2050. Through broad-based political support, public-private partnerships, and innovative green technologies, Chile offers a playbook for policymakers around the world to transition towards renewable energy.
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Chile has set an ambitious target to convert 70% of its total energy consumption to renewables by 2030 and become carbon neutral by 2050. Through broad-based political support, public-private partnerships, and innovative green technologies, Chile offers a playbook for policymakers around the world to transition towards renewable energy.

Reading Time: < 1 minute

Takeaways:

  • Thanks to the falling cost of renewables and battery storage long with the rise in gas prices, it is now cheaper to switch from coal to clean energy.
  • The global average cost of switching from coal to renewable energy has plunged by 99% since 2010.
  • The carbon price of switching from coal to clean energy has decreased to -$62 per ton of carbon dioxide emitted on average in 2022.

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