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Global investment in coal-fired power generation fell to its lowest level in 14 years, according to the International Energy Agency (IEA), but the number of coal-fired generators in Southeast Asia continues to increase
.
Global power sector spending fell 1 percent in 2018 and investment fell nearly 3 percent to less than $60 billion for coal-fired power alone, the lowest level since 2004, largely due to lower
spending in China and India, the IEA said in a statement.
Meanwhile, final investment decisions for new coal-fired power plants fell to their lowest level this century, falling 30 percent to 22 GW
in 2018.
"Nevertheless, global coal power stocks continue to grow due to net increases in developing Asian countries," the IEA said, "and investment in coal plants remains above IEA forecasts, with the biggest difference in Asia, particularly in China, India and Southeast Asia
.
" ”
In the Philippines, data from the Department of Energy shows that coal remains the main source of electricity, accounting for 35 percent of the country's power generation mix, or about 8,000 megawatts
.
Meanwhile, several coal-fired power plants are in the pipeline, but many have yet to make progress
due to cases filed in court and long-pending regulatory applications.
"Without carbon capture technology or incentives for early retirement, the coal power and high (carbon dioxide) emissions it generates will remain part of the global energy system for many years to come," the
IEA said.
At the same time, investment in energy efficiency will need to accelerate to achieve the Sustainable Development Goals, while spending on renewable energy will double
by 2030.
”
Global investment in coal-fired power generation fell to its lowest level in 14 years, according to the International Energy Agency (IEA), but the number of coal-fired generators in Southeast Asia continues to increase
.
Global power sector spending fell 1 percent in 2018 and investment fell nearly 3 percent to less than $60 billion for coal-fired power alone, the lowest level since 2004, largely due to lower
spending in China and India, the IEA said in a statement.
Meanwhile, final investment decisions for new coal-fired power plants fell to their lowest level this century, falling 30 percent to 22 GW
in 2018.
"Nevertheless, global coal power stocks continue to grow due to net increases in developing Asian countries," the IEA said, "and investment in coal plants remains above IEA forecasts, with the biggest difference in Asia, particularly in China, India and Southeast Asia
.
" ”
In the Philippines, data from the Department of Energy shows that coal remains the main source of electricity, accounting for 35 percent of the country's power generation mix, or about 8,000 megawatts
.
Meanwhile, several coal-fired power plants are in the pipeline, but many have yet to make progress
due to cases filed in court and long-pending regulatory applications.
"Without carbon capture technology or incentives for early retirement, the coal power and high (carbon dioxide) emissions it generates will remain part of the global energy system for many years to come," the
IEA said.
At the same time, investment in energy efficiency will need to accelerate to achieve the Sustainable Development Goals, while spending on renewable energy will double
by 2030.
”
