Coal news and updates

The year in coal -- a look back

Last year saw many of changes for coal as solar and wind generation hit record highs and prices declined. Installation of renewable energy capacity outpaced coal, oil, and nuclear growth combined. Nationwide, 30 percent of existing U.S. coal plants (158 -- or more than 20 percent of the nation's coal power) is set to retire.

n 2013, more than 2,000 activists nationwide descended upon hearings held by the U.S. Environmental Protection Agency to protect the public from carbon pollution, more than 10,000 showed up to oppose coal exports out of the Pacific Northwest, and more than 200,000 people submitted comments to curb coal pollution and invest in clean energy.

The year saw 39 existing coal plants retired or announced to retire (a total of 22,164 MW) -- an average of three coal plants per month while leading investors like Warren Buffett publicly announced that coal will decline in importance. At the end of 2013, Buffett's utility MidAmerican Energy ordered $1 billion worth of wind turbines for Iowa, where wind is the cheapest source of power, announcing that "wind power provides a hedge for our customers going forward in an era of reduced coal generation."

As many regions of the country reduce their reliance on coal, they are increasingly considering and implementing clean renewable energy sources, and it is no wonder. In the last three years, there has been a 60 percent drop in the cost of solar panels and a 30 percent drop in the cost of wind power. As of September 2013, 2,485 MW of solar power had been installed, bringing the total amount of solar operating in the U.S. to 10,250 MW while there are now 60,000 MW of wind power operating in the United States.

In 2013, utilities like American Electric Power and Xcel Energy announced their intentions to increase their wind investments due to greater affordability and substantial savings to customers.

Source: FierceEnergy