“Installation of new renewable energy facilities has now all but dried up, unable to compete on a grid now flooded with a low-cost, high-energy fuel,” two experts from Colorado’s Renewable and Sustainable Energy Institute said in an essay posted this week on Environment360, a Yale University website.
How much further the shift from coal to natural gas can go is unclear. Bentek says that power companies plan to retire 175 coal-fired plants over the next five years. That could bring coal’s CO2 emissions down to 1980 levels. However, the EIA predicts prices of natural gas will start to rise a bit next year, and then more about eight years from now.
Despite unanswered questions about the environmental effects of drilling, the gas boom “is actually one of a number of reasons for cautious optimism,” Mann said. “There’s a lot of doom and gloom out there. It is important to point out that there is still time” to address global warning.
Associated Press writers Seth Borenstein in Washington and Jonathan Fahey in New York contributed to this story.