China tops clean energy ranking as developing world takes lead -report

Published 11:28 on November 23, 2015  /  Last updated at 17:15 on November 23, 2015  /  Americas, Asia Pacific, China, EMEA, International, US  /  No Comments

For the first time ever, more than half of all investment in large-scale clean energy projects took place in emerging markets last year, not wealthier countries, a report found.

For the first time ever, more than half of all investment in large-scale clean energy projects took place in emerging markets last year, not wealthier countries, a new report found.

In 2014, developing-country markets attracted a record $126 billion in clean energy investments, according to Bloomberg New Energy Finance (BNEF)’s annual Climatescope report, which ranks 55 developing countries for clean energy investment.

Key findings:

  • Top-ranked China added 35GW of new renewable power-generating capacity– more than the 2014 clean energy build in the US, UK, and France combined.
  • New renewable investment in in the 55 emerging economies rose 39% or $35.5 bln y/y to $126 bln in 2014.
  • $10 bln of that came from wealthier nations (OECD) to emerging markets, while investment from developing countries to developing countries surged to $79 bln, up from $53bln.
  • Costs associated with solar PV power down 15% y/y globally. Solar particularly competitive in emerging markets which often suffer from very high power prices from fossil generation while also very sunny.
  • 50.4 GW of new clean capacity was built in the 55 countries, up 21% y/y.
  • On a percentage basis, clean energy capacity is growing twice as quickly in the 55 nations compared to OECD.

By Ben Garside – ben@carbon-pulse.com

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