India could phase out coal by 2050: report
India could do away with coal-fired power plants by 2050 if the cost of both renewables and battery storage keep falling at their current trajectories. The cost of solar power generation has already fallen below that of coal-fired power and if the current trend continues, the generation cost of renewable power could come down to half their current price by 2025.
A paper by The Energy and Resources Institute (Teri) estimates that in less than a decade renewables and battery storage could undercut coal, reducing the country’s carbon dioxide emissions by around 10 per cent after 2030.
According to Teri’s research director-general Ajay Mathur, while coal-fired power plants under construction will be built, no more will be needed after 2025, provided two things happen.
TERI suggests that the country can cut its CO2 emissions by up to 10 per cent or 600 million tonnes after 2030, should renewable energy and batteries become less costly than coal within a decade, says the Financial Times report.