Poland to Halve Coal Demand by 2030?

Reuters reported that according to a new report completed by German and Polish researchers, renewable energy groups and Greenpeace, by 2030, Poland may cut its coal demand in half by shifting toward renewable energies.

As quoted in the market news:

It estimated that Poland, which now generates 90 percent of its electricity from coal, could create 100,000 jobs with a shift to wind, hydro, biomass, geothermal and solar power by 2030.

The scenario would require investment of $264 billion, double the $132 billion cost of business as usual. Still, free renewable energies would be cheaper in the long run by eliminating costs of fuel to generate electricity, it said.

Poland ‘has a once-in-a-generation opportunity to move beyond coal,’ it said. ‘Poland is home to a geriatric energy system, based on coal. Its power plants are old with about 70 percent of them being over 30 years old.’

Click here to read the full Reuters report.