Even in cases where the policy makers are willing to shut down low efficiency coal power plants in favour of new, higher efficiency plants, financing is hard to come by as most financing agencies are wary of investing in fossil fuel power plants given their poor future business prospects owing to the growth of renewable sources.
Running new, more efficient coal power plants instead of the inefficient old ones could however significantly reduce CO2 emissions for the same amount of power generated.
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Innovation sector
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Challenges