Renewable energy development surging in emerging markets
A climate action network at Sutherland, Australia - not directly related to story (source: flickr/ jondoig, creative commons)
Francisco Rojas
31 Oct 2014
Bloomberg states that the high cost of traditional energy is making developing economies focus on renewables and currently, said economies are installing at almost twice the rate of developed ones.
According to a recent post by Bloomberg, emerging economies are adding more renewable energy than developed ones, and in particularly, nearly at a double rate.
Bloomberg’s study is based on “A study of 55 nations — including China, Brazil, South Africa, Uruguay and Kenya — found that they’ve installed a combined 142 gigawatts from 2008 to 2013. The 143 percent growth in renewables in those markets compares with an 84 percent rate in wealthier nations, which installed 213 megawatts”
The same report details that the rationale behind this trend has to do with the high costs of energy production in emerging countries. While developed economies see renewables as sometimes not cost-effective, the high price that developing countries have to pay for fossil fuels make renewable energy a particularly attractive alternative.
To read the full news piece, please follow the link below:
Source: Bloomberg
