BOOM AND BUST 2021

In 2020, global coal-fired power capacity increased by 12.5 GW, driven primarily by China, which operated 38.4 GW of new capacity. This offset record closures in the US (11.3 GW) and EU27 (10.1 GW). While China's development grew as an economic stimulus during the pandemic, other Asian nations like Indonesia, Vietnam, Bangladesh, and the Philippines announced plans to cancel up to 62 GW of planned projects due to falling renewable costs and financing difficulties. The report concludes that current global trajectories remain far from the 1.5°C warming limit, with approximately 1,350 GW of capacity needing to be cancelled or closed to meet IPCC targets.

• China's rapid expansion of coal power in 2020 reversed a global downward trend, resulting in the first increase in global coal capacity since 2015.
• China accounted for 76% of the world's new coal capacity in 2020, operating 38.4 GW of new plants, while the global fleet outside China decreased by 17.2 GW.
• Coal plant closures in the United States reached record levels during the Trump administration, with 52.4 GW closed between 2017 and 2020.
• Four Asian countries—Indonesia, Bangladesh, the Philippines, and Vietnam—announced plans to cancel up to 62 GW of previously planned coal capacity.
• India's coal fleet growth reached its lowest level since 2004 in 2020, with a net increase of only 0.7 GW after accounting for 1.3 GW of closures.
• The EU27 saw record closures of 10.1 GW in 2020, with Spain closing half of its coal fleet (4.8 GW of 9.6 GW).
• To align with the 1.5°C warming limit, approximately 1,350 GW of coal capacity must be cancelled or closed, including 500 GW in China and 450 GW in OECD countries.
• Financial institutions are increasingly restricting coal funding, though significant debt financing (nearly US$500 billion in the first three quarters of 2020) still flows to coal developers, primarily from Chinese and Japanese banks.

APA

Global Energy Monitor (2021). BOOM AND BUST 2021. https://globalenergymonitor.org/sites/default/files/migration/reports/BoomAndBust_2021_Indonesian_final_11.pdf

Chicago

Global Energy Monitor. BOOM AND BUST 2021. 2021. https://globalenergymonitor.org/sites/default/files/migration/reports/BoomAndBust_2021_Indonesian_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_Indonesian_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_Indonesian_final_11.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }