After a Record 2023, Coal Headed for Decline, IEA Analysts Say
This year coal demand grew by 1.4 percent worldwide, according to an IEA analysis, which found a stark divide between developing and developed countries. While coal use grew by 5 percent in China and 8 percent in India, the world’s largest producers and consumers of coal, it fell by 20 percent in the U.S. and the EU.
Looking ahead, analysts say that global coal demand will fall by 2.3 percent by 2026, even without new policies to curb its use, as hydropower in China recovers from drought and new wind and solar projects come online. China, which currently is responsible for more than half of global coal demand, will account for more than half of renewable power coming online over the next three years. Experts say that with renewables poised to displace coal, it is possible that Chinese emissions peaked in 2023.
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