Parking Industry

23% of All US coal-fired power to Be Retired By the End of 20292 min read

Dec 5, 2022 2 min
US coal-fired power

23% of All US coal-fired power to Be Retired By the End of 20292 min read

Reading Time: 2 minutes

According to the EIA, 23% of coal is being retired owing to “ongoing competition from renewable resources and natural gas” as well as greater operating costs linked to less efficient, older coal-fired power units.

According to the EIA, roughly a third of coal plants in the United States use refined coal, a fuel manufactured by combining proprietary additives with raw coal. These plants were slated to retire by 2029 after a supporting tax credit expired in early 2022.

According to the report, there are two main reasons why coal-fired power plants are being retired. First, they’re old and inefficient. Second, they’re being replaced by natural gas plants.

The kind of coal used by retiring units is changing, with “primarily sub-bituminous- and refined coal-fueled facilities accounting for a combined 68% of projected retirements between 2022 and 2029.”On top of this, most of the retiring coal plants are switching to sub-bituminous and refined coal. Combined, those two fuel types represent 68% of retirements from 2022 to 2029.

The EIA expects the United States to retire 23% (200,568 megawatts (MW)) of its coal capacity by the end of 2029, as the country relies more heavily on renewable energy sources such as solar and wind. This shift will be driven by low natural gas prices, which have made it competitive with coal in many markets. It will also be driven by regulations that require power plants to reduce their emissions of pollutants like mercury and sulfur dioxide; these regulations make it more expensive for power plants to burn coal than it would be otherwise.

By September 2025, the US is expected to have nearly one-third (32.37%) of its total available installed generating capacity being supplied by renewable energy sources.

Also Read: Florida Leads the EV Charging Revolution in the US

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