According to an unconfirmed report, India is planning to dramatically scale up its deployment of wind energy to 10,000MW annually – a five-fold increase on existing plans. As India is already the world’s fifth largest producer of wind energy, such an expansion of wind generation, coupled with new Prime Minister Narendra Modi’s desire to speed solar development and tax coal, will be another nail in the coffin for the coal industry. Prime Minister Tony Abbott may want “coal carries steaming north”, but with China’s demand for coal also peaking and other developing nations making strides to reduce their emissions and leapfrog fossil fuels to renewables, the future of the mining industry operating in Australia is looking increasingly bleak.
- MT @renew_economy: Indian #wind turbine manufacturers to increase annual capacity to five times its current level http://t.co/fzdznGDufw
- With China’s war on pollution curtailing its appetite for coal, the industry has been trying to offload its dirty products on India, but this is fast becoming a futile operation. The developing world wants clean energy. Renewables are already more economic than fossil fuels, and they will only get cheaper over time. The installed cost of electricity from wind in India is Rs4.60/kWh – this is materially lower than the Rs5-6/KWh of imported-coal. It is not only more logical for poor, disparate communities to locally generate what they need, it is more just to not lock them into a fuel purchase cycle when they don’t need to be.
- India is fifth-largest wind power producer in the world after China, US, Germany and Spain, and it has more than enough production capacity to keep up with the five-fold increase in wind deployment that is rumoured. Such a wind development going ahead alongside new Prime Minister Modi’s huge solar expansion and doubling of coal tax will be a major nail in the coffin of the coal industry operating in Australia.
- Coal is not the answer to energy poverty, and no amount of “sham” and misleading PR offensives will cover up its dirty impacts or limited financial benefits. It is an industry in terminal decline. China and India’s moves away from coal are a big red flag for investors, and some are already taking note and abandoning ship before assets in the Galilee basin become an expensive example of stranded asset creation.
- India Plans To Add 10,000 MW Wind Energy Capacity Every Year (CleanTechnica)
- Government aims to add 10,000 MW per year to lift wind energy sector (The Economic Times)
- Sydney University creates waves with investment ban on coal (Sydney Morning Herald)
- Coal mining downturn to be prolonged: Citi (Sydney Morning Herald)
- Rising economies ‘ahead on climate’ (BBC)
- Ross Garnaut: China to reach ‘peak coal’ for electricity by 2015 (The Conversation)
Tools and resources
- Opinion: Mining boom makes little sense (Sydney Morning Herald)
- Report: Briefing note: Indian electricity coal prices (IEEFA)
- Report: The Great Coal Cap: China’s energy policies and the financial implications for thermal coal (Carbon Tracker Initiative)
- Report: The external environmental cost of coal (Energy Foundation)
- Report: The end of China’s coal boom: 6 facts you should know (Greenpeace)
- Report: Macro-Economic impacts of the low-carbon transition (EY)
Images and video
- Infographic: Winds of change (Economic Times)
- Images: Wind turbines in India (Yahoo / Vestas), India bundled wind (Land Rover Our Planet)
- “Our [climate change] mitigation efforts are more than developed countries. We are going ahead with our voluntary actions which will reduce carbon emissions and also bring about increased energy efficiency from 25 to 50 per cent. We want the developed world to walk the walk.” Indian Environment Minister, Prakash Javadekar.
Related Tree Alerts
- Renewables break records across Europe
- China’s use of coal falls for the first time this century
- Coal to be “forbidden” from Forbidden city by 2020
- Renewables digging large potholes in coal’s rocky road
- MT @market_forces: Adani fails to raise power tariffs from #India #coal plant. New Aus coal mine will make it worse! http://t.co/iZrph4nVev
- MT @GhoshArunabha: 24K jobs in #solar 70K in solar & #wind. @CEEWIndia @NRDC_India’s 1st indpt analysis of #greenjobs http://t.co/FVNVfTh9r1
- Why Bill #Gates – and Greg Hunt and Bjorn Lomborg – are wrong to say #coal is the key to solving energy poverty shar.es/1nSzKa