Many wind and solar advocates argue that shutting down coal and gas plants is worth the risk and the cost because it’ll stop global warming.

Billionaire philanthropist and former New York Mayor Michael Bloomberg pledged $500 million in September toward shifting electricity production in the United States to wind and solar energy and shutting down its coal- and gas-fired plants.

However, some experts say that Bloomberg’s millions, together with the billions being spent by the Biden administration, are paving a road to ruin.

The donation from Bloomberg Philanthropies, which adds to the $500 million Mr. Bloomberg pledged in 2019, aims to “finish the job on coal” and “accelerate the clean energy transition to reach the goal of 80 percent of total electricity generation” from renewables, according to an official statement.

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