Bloomberg New Energy Finance’s New Energy Outlook has presented a bleak picture for the future of coal, signalling that solar, wind and natural gas power represent the future of the energy industry. Coal demand is expected to peak in the next decade, before falling nearly every year and reaching 3.1 billion metric tons in 2040, a 25% decline. Natural gas, in contrast, has brighter prospects, showing a higher consumption rate in 2040 than in previous years, despite a short drop at the end of the current decade.
Bloomberg New Energy Finance’s New Energy Outlook has presented a bleak picture for the future of coal, signalling that solar, wind and natural gas power represent the future of the energy industry. Coal demand is expected to peak in the next decade, before falling nearly every year and reaching 3.1bn metric tons in 2040, a 25% decline. Natural gas, in contrast, has brighter prospects, showing a higher consumption rate in 2040 than in previous years, despite a short drop at the end of the current decade.