Global coal demand hit a record high in 2023, but with the renewables buildout continuing apace in China, coal is headed for a decline over the next two years, according to a new analysis.
Global coal demand hit a record high in 2023, but with the renewables buildout continuing apace in China, coal is headed for a decline over the next two years, according to a new analysis.
“We have seen declines in global coal demand a few times, but they were brief and caused by extraordinary events such as the collapse of the Soviet Union or the Covid-19 crisis,” said Keisuke Sadamori, director of energy markets and security at the International Energy Agency. “This time appears different, as the decline is more structural, driven by the formidable and sustained expansion of clean energy technologies.”
This year coal demand grew by 1.4 percent worldwide, according to an IEA analysis, which found a stark divide between developing and developed countries. While coal use grew by 5 percent in China and 8 percent in India, the world’s largest producers and consumers of coal, it fell by 20 percent in the U.S. and the EU.
Read more at: Yale Environment 360
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