New finance model swaps coal for renewables
A finance mechanism that retires coal power stations and replaces them with new renewable energy capacity is gathering steam in the United States. But challenges remain in making this seemingly simple solution mainstream
Early successes with a market-led financial innovation that stimulates the displacement of coal by renewables could turbo-charge the energy transition everywhere
FINANCIAL SENSE
Replacing fossil fuel power supply with renewables can help lower costs for consumers otherwise stuck with increasingly expensive electricity from dirty sources
HUGE POTENTIAL
The model can facilitate the removal of large numbers of coal power stations in a way that is responsible, affordable and provides money for job retraining
KEY QUOTE
It is not as simple as walking into someone’s boardroom and saying you can save them money by doing something that is also good for the world—that doesn’t get you as far as you would think
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