By Joe Smyth, Energy and Policy Institute. This was originally posted on the Energy and Policy Institute.
Analysts at Morgan Stanley and Moody’s Investors Service expect that more electric utilities will accelerate their transition away from coal, with major financial benefits for both ratepayers and shareholders.
In a research report last month titled “The Second Wave of Clean Energy,” analysts at Morgan Stanley explained how “the surprisingly low cost of renewables” will drive utilities to close most of the remaining U.S. coal plants over the next decade. Replacing coal with cheaper renewable energy could save electricity customers as much as $8 billion each year, according to Morgan Stanley: