BOOM AND BUST COAL 2024

The global operating coal fleet grew by 48.4 GW (2%) in 2023 to 2,130 GW, primarily driven by China. While many countries have reduced their coal pipelines or committed to 'No New Coal,' China saw an eight-year high in new construction starts. Outside China, new construction hit a record annual low. However, global operating capacity has grown 11% since 2015, and only 15% of current capacity has a retirement commitment aligned with the 1.5°C goal.

• Global operating coal power capacity reached an all-time high in 2023, increasing by 48.4 GW (2%) to a total of 2,130 GW. China was the primary driver, accounting for 68% of global additions with 47.4 GW of new plants coming online.
• There is a stark divergence in construction trends: new construction starts outside China hit a record annual low since 2015, while China's new construction starts hit an eight-year high, totaling 70.2 GW in 2023.
• Global pre-construction coal capacity (announced, pre-permit, and permitted) increased by 6% in 2023 to 578.2 GW. This capacity is highly concentrated, with China and ten other countries—including India, Bangladesh, and Indonesia—accounting for 95% of the total.
• India is expanding its coal fleet, introducing 11.4 GW of entirely new coal proposals in 2023—the highest since 2016—and commissioning 5.5 GW of new capacity.
• In the EU and UK, coal generation collapsed by 26% in 2023, and the region's coal development has dwindled to a single project (0.1 GW) in Poland.
• The United States retired 9.7 GW of coal capacity in 2023. Approximately half of its current operating capacity (101.2 GW) is expected to be decommissioned or converted by 2035.
• Indonesia's energy transition is complicated by the rapid growth of 'captive' coal plants used for industrial activities, particularly nickel smelters, with 3.3 GW of captive capacity coming online in 2023.
• Central Asia is trending against the global shift, with proposed coal capacity now equivalent to 45% of the region's current operating capacity, led by Kazakhstan's 4.6 GW of new proposals in 2023.
• Private financial institutions showed a slowdown in adopting coal policies in 2023, with 23 institutions updating or adopting policies compared to 57 in 2022.

APA

Global Energy Monitor (2024). BOOM AND BUST COAL 2024. https://globalenergymonitor.org/sites/default/files/migration/reports/Boom-Bust-Coal-2024_24.pdf

Chicago

Global Energy Monitor. BOOM AND BUST COAL 2024. 2024. https://globalenergymonitor.org/sites/default/files/migration/reports/Boom-Bust-Coal-2024_24.pdf.

Wikipedia

{{cite report |author=Global Energy Monitor |title=BOOM AND BUST COAL 2024 |date=April 2024 |url=https://globalenergymonitor.org/sites/default/files/migration/reports/Boom-Bust-Coal-2024_24.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{globalenergymonitor2024boom, author = {{Global Energy Monitor}}, title = {{BOOM AND BUST COAL 2024}}, institution = {Global Energy Monitor}, year = {2024}, month = apr, url = {https://globalenergymonitor.org/sites/default/files/migration/reports/Boom-Bust-Coal-2024_24.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }