By 2030, the coal industry will effectively be operating in the red. That’s the latest analysis from the CarbonTracker Initiative, an independent think tank that looks at the economic implications of today’s coal energy and other markets.

The economics of U.S. coal power could not be starker: new coal capacity is not remotely competitive.

But what analysts were really looking at in its study Lignite of the Walking Dead, which was released this week, was what the scenario would look like economically if the 28 countries that comprise the European Union were to actually limit global warming to below 2℃ by 2050.

And while the prospects of a world that doesn’t include carbon-intensive coal energy is appealing to many, an incomplete transition presents formidable economic challenges for the global community, say the writers.

That’s good news for a world that chugs along fine on renewable energy, right?

Not so fast, say the authors. Transitioning to clean energy on a global or continental basis doesn’t happen overnight. And as the EU is learning, it doesn’t happen simply out of resolve. It’s hard work replacing an industry that was once believed to be irreplaceable — one that for years, had fueled much of the world’s production of electricity.

Read the full article on coal by Jan Lee at TriplePundit