Full Title: Which emerging market is the most attractive for clean energy investment?
Author(s): BloombergNEF
Publisher(s): Bloomberg NEF
Publication Date: November 25, 2019
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Description (excerpt):
A cool down in China and several other major economies depressed 2018 clean energy investment across emerging nations and kept overall deployment rates flat year-on-year. Meanwhile, coal-fired generation surged in the 104 markets BloombergNEF assessed for its annual Climatescope survey. Both suggest that despite considerable recent progress, developing countries’ power sector CO2 emissions are rising rapidly.
There were silver linings in 2018, of course. For the second year in a row, emerging nations built more clean than fossil-fueled power-generating capacity. Construction of new coal-fired power plants fell to its lowest level in a decade. Excluding China, clean energy installations grew by 21% year-on-year to hit a new record. And the number of emerging markets with three or more clean energy-friendly policy types on the books rose to 62 of those analyzed. All suggest policy-makers increasingly recognize that renewables are cost-competitive and worth backing.
Still, given the massive challenge of limiting global warming to 1.5 degrees Celsius, this year’s Climatescope offers a stark reminder of the work ahead. Rapidly growing nations that today are just as rapidly expanding their carbon footprints must reach net zero emissions by 2050. To get there, those currently leading the energy transition must keep growing their clean energy sectors while dormant renewable energy markets must also emerge. Below is a synopsis of Climatescope 2019’s key findings by topic areas.