The cost of running existing coal power plants in the United States continues rising while new wind and solar costs keep falling. Energy Innovation’s first Coal Cost Crossover report (2019) found 62 percent of U.S. coal capacity was more expensive to run than to replace with renewables, while the second (2021) found 72 percent of capacity more expensive than renewables.
The latest Coal Cost Crossover research finds incentives in the Inflation Reduction Act accelerate this trend – 99 percent of all U.S. coal plants (209 out of 210) are now more expensive to run than replacement by new local solar, wind, or energy storage. Replacing coal plants with local wind and solar would also save enough to finance nearly 150 gigawatts of four-hour battery storage, over 60 percent of the coal fleet’s capacity, and generate $589 billion in new investment across the U.S. The report provides policy recommendations to facilitate a just transition through the Coal Cost Crossover.
Access the Coal Cost Crossover 3.0 report here
