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.
