Yet it’s that “least-cost” option for power generation that has kept King Coal on top for so long. Coal has been the cheapest energy around, and state regulators’ traditional mandate has been to support cheap power, not clean power.

“The reality is that coal generation as we know it today won’t be as cheap,” said Nils Mellquist, a senior researcher at Deutsche.

Deutsche Bank analysts outlined a plan yesterday aimed at cutting coal’s share of energy generation from 47 percent to 22 percent in the next two decades.

Using more gas, increasing wind and solar power to 14 percent of the energy mix, and adding more nuclear power would achieve a 44 percent reduction in carbon dioxide emissions from the electricity sector in 2030, according to the Deutsche Bank report.

“The role that natural gas can play we think is so significant that it can form a bipartisan agreement,” said Mark Fulton, global head of climate change investment research.

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The study, “Validation of Direct Natural Gas Use to Reduce CO2 Emissions,” found that when a societal subsidy such as a rebate or a tax credit is put in place to encourage the use of natural gas appliances, significant savings in energy costs, CO2 emissions, energy use, and electricity use can be achieved.

The report: Validation of Direct Natural Gas Use to Reduce CO2 Emissions

Source: American Gas Association