The Pew Charitable Trusts launched a report Power Shifts Emerging Clean Energy Markets in May, tracking the investment in renewable technology in developing countries. The Pew Charitable Trusts is a non-profit, independent NGO with the mission to serve the public interest.
The report provides some great statistics on where investment is occurring, predicts future growth and examines in detail the top spending in the 10 leading developing countries, which includes Kenya. Whilst the majority of renewable energy investment has been deployed in developed countries the report highlights the huge growth of energy needs in the developing countries and how renewables is going to be the lion’s share.
Some of the highlights from the report:
- Growth of future energy demand will be greatest in developing countries - Due to the goals of initiatives such as the U.N.’s Sustainable Energy for All, among others, there is an increasing emphasis on the elimination of energy poverty, coupled with with the large growth in populations in these regions. Developing countries are likely to account for two-thirds of the growth in energy demand to 2030.
- Renewable energy will supply the majority of new worldwide energy capacity to 2030 - Due in part to a number of factors such as a lowering of costs and energy security, one of the key advantages of renewable energy in developing countries is that it can Cleanleap over more polluting technologies due to the lack of existing fossil fuel based infrastructure.
- Solar accounts for more than half of new clean energy in emerging markets -The investment in renewables, in particular solar, has far outpaced the addition of new fossil fuel based investments. The growth in renewable technologies in the top 10 countries was around 90 per cent compared to the growth in fossil fuels around 8 per cent from 2009-2013.