START A PETITION 25,136,189 members: the world's largest community for good
START A PETITION
x
2,513,512 people care about Environment & Wildlife

Developing Countries Investing More in Renewables

Developing Countries Investing More in Renewables

 

The headlines of a Think Progress article caught my attention: Industrialized Countries are Now Losing the Clean Energy Race. The article cites figures from a recent UN Environment Program (UNEP) report. For the first time, developing countries are investing more in clean energy projects, in terms of “financial new investment,” than developed countries. Last year, developing countries invested $72 billion invested in renewables while developed countries invested $70 billion. In 2004, financial new investments in developing countries were about one-quarter of those in developed countries.

China invested $48.9 billion in financial new investment in renewable energy in 2010, a 28 percent increase from 2009, making it the world leader in 2010. Here are the figures for other countries and regions:

  • South and Central America invested $13.1 billion, a 39 percent increase
  • Middle East and Africa invested $5 billion, a 104 percent increase
  • India invested $3.8 billion a 25 percent increase
  • Asian developing countries, excluding China and India, invested $4 billion, a 31 percent increase

Climate change is expected to hit developing countries the hardest. The Industrial Revolution, which occurred in developed countries, is the cause of the increase in greenhouse gas emissions which causes climate change. How ironic that developing countries are leading in renewable energy investment.

“The investment activity in the developing world is not only leading to innovations in renewable energy technologies. Furthermore, it will open up new markets as first mover investors are facilitating a range of new business models and support entrepreneurship in the developing world,” explained Udo Steffens, President of the Frankfurt School of Finance and Management, who helped launch the report with UNEP Executive Director, Achim Steiner.

“The continuing growth in this core segment of the Green Economy is not happening by chance,” Steiner said. “The combination of government target-setting, policy support and stimulus funds is underpinning the renewable industry’s rise and bringing the much needed transformation of our global energy system within reach.”

There is some good news for all countries: The price of photovoltaic panels per megawatt (MW) decreased 60 percent since mid-2008. Wind turbine prices decreased by 18 percent per MW in the last two years. The report predicts further decreases in solar and wind which pose “a growing threat to the dominance of fossil-fuel generation sources in the next few years.”

Photo: Jim Lawlor

Read more: , , , , , ,

have you shared this story yet?

some of the best people we know are doing it

44 comments

+ add your own
7:13AM PST on Feb 21, 2012

Great article thank you

8:50PM PDT on Jul 13, 2011

Let's hope that this trend continues!

4:22PM PDT on Jul 13, 2011

IB SOLAR !!

3:01PM PDT on Jul 13, 2011

Great!

5:03AM PDT on Jul 13, 2011

The chinese will do what they want when they want and nobody will change that...this is a dictatorship with a Big D...despite all the smiles and money that they make!

11:29PM PDT on Jul 12, 2011

This is good to read :)

11:25PM PDT on Jul 12, 2011

Go solar and wind!

11:23PM PDT on Jul 12, 2011

This sounds like positive news. It is good that cost per MW has come down. The world needs renewable energy!

8:12PM PDT on Jul 12, 2011

Thanks for the article.

6:55PM PDT on Jul 12, 2011

GOOD NEWS. THANKS!

add your comment



Disclaimer: The views expressed above are solely those of the author and may not reflect those of
Care2, Inc., its employees or advertisers.

Care2 - Be Extraordinary - Start a Care2 Petition
ads keep care2 free
CONTACT THE EDITORS

Recent Comments from Causes

Wow Darryll G, Where did you get that astounding piece of misinformation. Before man was involved, what…

I was a teacher and it is a thankless job!!!!!to much outside interference....and they should get combat…

"I have hired the very best legal counsel for this action based on a recommendation from my good friend…

meet our writers

Julie M. Rodriguez Julie M. Rodriguez is an arts, green living, and political writer based in San Mateo, CA. Her work... more
ads keep care2 free

more from causes

Animal Welfare

Causes Canada

Causes UK

Children

Civil Rights

Education

Endangered Wildlife

Environment & Wildlife

Global Development

Global Warming

Health Policy

Human Rights

LGBT rights

Politics

Real Food

Trailblazers For Good

Women's Rights




Select names from your address book   |   Help
   

We hate spam. We do not sell or share the email addresses you provide.