New Renewables Cheaper Than Old Coal In Southeast Asia

Published onNovember 8, 2018

A new analysis from independent financial think tank Carbon Tracker has concluded that it would be cheaper to build new solar PV and onshore wind capacity in Indonesia, Vietnam, and the Philippines by the end of the next decade rather than continue operating existing coal-fired power plants. Carbon Tracker published three new country briefings on Monday outlining how meeting the climate goals set out in the Paris Agreement could affect the role of coal-fired power plants in Indonesia, Vietnam, and the Philippines. Specifically, according to Carbon Tracker, the slow advance of government policy, market liberalization, and renewable technology advances across the three countries could end up costing coal power plant owners up to $60 billion in stranded assets. As a result, the cost of building solar PV and onshore wind will be cheaper than operating existing coal plants by some time late in the next decade, depending on the country and technology.