More Coal Mines Close Than Open Worldwide, as Countries Go for Renewables

For the first time on record, more coal mines shut than opened on a global scale over the first six months of a year. That’s according to the Global Energy Monitor, an American research and advocacy group that tracks fossil fuel development.

“I think this could definitely be a moment where things have slowed down enough that countries rethink their coal plans,” says Christine Shearer, Global Energy Monitor’s coal program director. She adds that India had “radically reduced” the amount of coal it planned to build as the fuel struggled to compete with new solar and wind: “They don’t have anyone to sell the power to because there are cheaper alternatives.”

Vietnam, Bangladesh and Egypt have promised to favor renewable energy and gas development. “How can you compete with [solar and wind] that has zero marginal cost of supply?” says Tim Buckley, from the Institute for Energy Economics and Financial Analysis. Countries that refuse to turn to clean energy sources “are going to lose. I have zero doubt about it.”