> We're still building net-new coal plants
I wonder about that. Will they be subsidized? At the same time are also closing down functional coal plants because their operational cost can't be recouped now that they compete with renewables.
(Yeah, in all likelihood, everybody involved is actively refusing to think and talk about that on the hopes that they will have left this job by then. And the people putting money there are probably trying to sell their shares away to another loser before it.)
Any way you cut it, those new coal plants will only get operational at all if people decide to constantly burn some money in them.
> However the lifetimes on gas cars, heavy equipment, and power plants being built today range from 20-50 years.
Yes, and that means we can replace up to 5% of our transportation emissions by year without increasing our capital depreciation. That is in stark contrast to the norm in that you are supposed to do some net investment to adapt to any random change.
If you decide (by regulation, morality, or whatever) to actually sink money on the change, you can get there much faster.