Global Coal Demand Declines, Solar Expands

While solar continues to thrive, coal has officially reached its peak and made a downturn in demand worldwide. According to the International Energy Agency, this is the first decline the industry has seen since the 1990s. That means it could be leaving room for solar to take the lead as the world’s most in-demand source of energy. There is no doubt the efficiency and affordability of solar energy equipment are increasing, and that may be one of the reasons coal has become less desirable.

Coal has long been the world’s largest contributor to carbon emissions, an aspect many of Americans have become very aware of. The nation is taking steps toward a cleaner future, and the rest of the globe is catching on. Where coal puts tons upon tons of carbon into the atmosphere, solar has proven to impact the planet far less. The solar power industry is finding more ways to make solar energy equipment even more efficient, and as hundreds of thousands of panels are installed, homeowners and businesses throughout the United States continue to invest. More people can afford solar panels today than even a year ago, because solar is growing so quickly.

The report from the International Energy Agency said that China is not as interested in coal as it once was. Until recently, China was a renowned consumer of coal and one of the world’s leading contributors to the industry. Now, they are focusing less on coal, steel, and cement, but more on renewable resources, namely solar energy and hydro power. Although the globe’s coal giants are turning away from the industry to take on a cleaner mission, there is still a long way to go. The demand for coal is only expected to drop 4% over the next 5 years. But who knows how far the solar industry will have come by then?