New research from the Institute for Energy Economics and Financial Analysis IEEFA shows that over 800 coal-fired power plants could be profitably replaced by solar power in emerging economies starting at the end of this decade. This is both a surprising and hopeful finding, as the lack of affordability of such a transition has long been one of the key hurdles standing between the world and a 1.5ºC cap on global warming.
And it’s not going to be easy. While profitably converting 800 coal plants into clean energy production plants is a hugely promising step in the right direction, it’s just a drop in the bucket compared to the kind of large-scale transition the developing world needs to stay within any feasible pathway to achieving global climate goals.