Wind, solar growth higher in developing nations — study

Source: By Pilita Clark, Financial Times • Posted: Wednesday, October 29, 2014

The growth rate of wind and solar energy in China, India and other developing countries is outpacing those in some of the world’s richest and most developed countries.

It was previously thought that many poorer nations couldn’t afford such renewable energy technologies and had to rely on coal-fired power plants and diesel generators.

But a Climatescope study conducted for a group of development agencies by Bloomberg New Energy Finance research firm found that new clean energy has grown an average of 19 percent since 2008 in 55 developing countries studied. That figure is higher than the average 13 percent growth among developed nations during the same period. The study did not include hydropower.

Many of the alternative energy technologies — wind farms or solar plants — can be quickly constructed and can better meet energy demand in the nations.

“These technologies are poised to make an immediate impact on energy supply and access in the developing world,” said the report.

Although it’s the world’s largest greenhouse gas emitter, China is also the biggest manufacturer of wind and solar equipment, accounting for six of the world’s 10 largest solar panel producers and five of the top 10 wind turbine manufacturers, according to Bloomberg New Energy Finance (Pilita Clark, Financial Times, Oct. 28).