#bank Stops Financing Coal

With India phasing out new coal plant construction years earlier than recommended,
. . . China reducing its pipeline too, huge utilities, and Bank of America saying,
. . . they are pretty much done with coal,
. . . Deutsche Bank is now committing to end financing of new coal mining, and
. . . new coal-fired power plant construction.

The trouble for coal is not just that renewables are becoming cheaper.
. . . It's that renewables are more easily and rapidly deployed, and
. . . they have almost zero marginal cost once operational.
That means at any given time, a solar farm or wind farm,
. . . can afford to undercut the price of electricity,
. . . from a conventional coal-fired power plant.

Banks are in the habit of making money, and
. . . coal just isn't a sure-fire bet for banks anymore.
And once banks stop lending (or demanding higher interest rates),
. . . then the economics of coal just keep getting worse.

2-2-2017 Source: #Bank stops financing Coal