BOOM AND BUST 2021

The report 'Boom and Bust 2021' analyzes the global coal plant pipeline, highlighting a divergence where a surge in coal development in China offset a general global retreat. While many countries in South and Southeast Asia, the US, and the EU are retiring plants or cancelling projects, China's commissioning of new capacity led to the first increase in global coal capacity since 2015.

• In 2020, China's commissioning of 38.4 GW of new coal plants—representing 76% of the global total—offset 37.8 GW of retirements in the rest of the world, resulting in a net global coal fleet increase of 12.5 GW.
• China's coal boom was driven by provincial governments using coal projects to stimulate economies following the Covid-19 pandemic, supported by central government loosened permit restrictions and increased lending for mega-projects.
• Coal plant retirements in the United States reached record levels during the Trump administration, with 52.4 GW retired between 2017 and 2020, exceeding the 48.9 GW retired during Obama's second term.
• The EU27 saw record coal retirements of 10.1 GW in 2020, led by Spain, which retired 4.8 GW, half of its total coal fleet.
• A significant collapse in the coal pipeline occurred in South and Southeast Asia, with Indonesia, Bangladesh, the Philippines, and Vietnam moving to cancel up to 62.0 GW of planned capacity.
• India's coal fleet growth slowed to just 0.7 GW in 2020 (net of 1.3 GW of retirements), the lowest since 2004, as the private sector withdrew from new construction due to low capacity factors and competition from cheaper solar and wind power.
• Global coal power capacity under development rose slightly from 501.3 GW in 2019 to 503.1 GW in 2020, reversing a five-year decline, primarily due to China's activity.
• Despite various financial restrictions, approximately US$500 billion in debt financing from commercial banks, predominantly Chinese and Japanese, reached companies developing new coal plants in the first three quarters of 2020.
• Current global projections for 2030 coal capacity (nearly 2,400 GW) far exceed the 1,100 GW limit consistent with IPCC 1.5 degree pathways, requiring an additional 1,350 GW to be cancelled or retired.

APA

Global Energy Monitor (2021). BOOM AND BUST 2021. https://globalenergymonitor.org/sites/default/files/migration/reports/BoomAndBust_2021_final_11.pdf

Chicago

Global Energy Monitor. BOOM AND BUST 2021. 2021. https://globalenergymonitor.org/sites/default/files/migration/reports/BoomAndBust_2021_final_11.pdf.

Wikipedia

{{cite report |author=Global Energy Monitor |title=BOOM AND BUST 2021 |date=April 2021 |url=https://globalenergymonitor.org/sites/default/files/migration/reports/BoomAndBust_2021_final_11.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{globalenergymonitor2021boom, author = {{Global Energy Monitor}}, title = {{BOOM AND BUST 2021}}, institution = {Global Energy Monitor}, year = {2021}, month = apr, url = {https://globalenergymonitor.org/sites/default/files/migration/reports/BoomAndBust_2021_final_11.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }