REPORT: 42% of global coal capacity now unprofitable

Two in five coal plants are running at a loss, according to a new report from financial think tank Carbon Tracker. And the situation will not improve for the out-of-favor fuel: by 2030, new wind and solar will be cheaper than almost all existing coal plants, according to the report.

The firm says it analyzed the profitability of 6,685 coal plants worldwide, and published the results in a new "coal power economics portal" to help develop "economically rational plans to close coal plants and to understand the financial risk if they continue to operate."

Globally, coal plants represent $267 billion in stranded asset risk, and the United States could save $78 billion by closing plants in line with the Paris climate accord, according to the firm's analysis.