Route Fifty: Two U.S. electric utilities recently declared something remarkable: It’s cheaper to tear down their coal plants and build renewable-energy plants than to keep the old boilers running. For the utilities, the goal is now to retire their coal plants and exceed the economy-wide climate targets set in the Paris Agreement: an 80% reduction of carbon emissions from 2005 levels by 2050.
It’s a surprising move by two (primarily) coal-powered utilities in the American West, but get ready for more. Economics, and politics, are fast converging on a consensus. Committing to a 100% carbon-free goal, even before we quite know how to reach it, is good for business.