Saturday, December 7, 2019

Investments in clean energy by developing countries declined in 2018

Developing nations are moving toward cleaner power but not nearly fast enough to limit global CO2 emissions. Due to economic slowdown, investment in new wind, solar, and other non-large hydro renewables projects in China fell to $86 billion in 2018 from $122 billion in 2017. 
Financing of clean energy projects in India and Brazil also slipped $2.4 billion and $2.7 billion, respectively from the year prior.
However, excluding China, India and Brazil, clean energy investment in the rest of developing world jumped to $34 billion in 2018 from $30 billion in 2017.
Across all emerging markets surveyed, 2018 investment fell to $133 billion, lower than not just the 2017 total but the 2015 figure as well. 
It is necessary to emphasize that declining costs for solar and wind played a considerable factor in the fall in absolute dollar investment in emerging economies.