All of these innovations have allowed the economy to decarbonize quickly without imposing noticeable costs on consumers. The coal industry is in a state of collapse. In just the last year alone, its share of US electrical generation fell from 36 percent to 28 percent. The four largest American coal-mining firms, which were worth a combined $34 billion five years ago, are now worth $150 million — a loss of more than 99 percent of their value.
In recent years, natural gas (which emits much less carbon than coal) has accounted for most of the decline. But the electricity sector is rapidly transitioning into zero-carbon sources. Solar and wind accounted for more than two-thirds of all new electric capacity last year. As these technologies rapidly grow cheaper and more efficient, their spread is accelerating. By the end of 2016, the US solar market will be ten times as large as it was in 2010.
Climate Change and Conservative Brain Death