Coal plant retirements to slow in 2024 before increasing again in 2025

The U.S. has retired 22.3 gigawatts of coal-fired generating capacity, but plant operators plan to retire only 5.2 gigawatts in 2024. This is a 62% decrease from 2023 when 13.5 gigawatts was retired and the least of any year since 2008, according to the Energy Information Administration.

Coal retirements, the EIA notes, will increase again in 2025, when 10.9 gigawatts of capacity are scheduled to retire.

Most of the plants retiring in 2024 are older units. The largest of those shutting down in 2024 are Seminole Electric Cooperative’s Unit 1 in Florida, which has a capacity of 626.0 megawatts, and Homer City Generating Station’s Unit 1 in Pennsylvania, which has a capacity of 626.1 megawatts.

According to the EIA, coal-fired generation is facing competition from natural gas-fired generation, as well as renewable energy.