As we continue to see the detrimental effects of climate change, it’s becoming increasingly important to transition away from unsustainable fossil fuels and towards cleaner, more sustainable energy sources. One of the key ways we can do this is by retiring coal-fired power plants, which are among the most polluting and harmful energy sources in use today.
According to the U.S. Energy Information Administration (EIA), approximately 9.5 GW of coal-fired capacity is retired each year. In addition, the EIA reports that 23% of the 200,568 MW of coal-fired capacity currently operating in the United States has reported plans to retire by the end of 2029. This trend towards retiring coal-fired power plants is a positive step in the right direction, as it will help to reduce greenhouse gas emissions and improve air quality.
But retiring coal-fired power plants is not just important for the environment – it can also have positive economic and social impacts. The U.S. Environmental Protection Agency (EPA) notes that cleaning up and reinvesting in these properties can increase local tax bases, facilitate job growth, utilize existing infrastructure, and both improve and protect the environment. By transitioning from coal to cleaner, more sustainable energy sources, we can create a more sustainable future for our communities.
One promising model for redeveloping retired coal-fired power plants is the 98six° reclamation model, which converts environmentally impaired sites into productive assets that achieve environmental, social, and governance (ESG) objectives for project and community stakeholders. This model leverages the existing infrastructure and assets of these sites to support clean power, logistics infrastructure, and commercial space, making them hubs for economic and environmental activity in their communities.
It’s important to note that the transition to clean, sustainable energy sources will not happen overnight. However, by retiring coal-fired power plants and redeveloping their sites, we can make progress towards a more sustainable energy future. The key is to continue to invest in renewable energy sources and technologies, while also leveraging the existing assets we have in place to create a more sustainable and prosperous future for all.