19 May 2015: The Clean Energy Initiative of The Pew Charitable Trusts has released a report highlighting global trends in electricity investment. The report, titled ‘Power Shifts—Emerging Clean Energy Markets,’ finds that investment in electricity infrastructure is shifting from industrialized countries to the developing world and from fossil fuels to clean energy. The report projects that renewables will account for 54% of new global power capacity over the next 15 years.

Pew’s research covers the five-year period from 2009-2013, during which US$62 billion was invested in clean energy in 100 countries outside of the Organisation for Economic Co-operation and Development (OECD) and Group of 20 (G20) bloc of countries. Of the total five-year investment, 45%, or US$27.9 billion, occurred in 10 emerging markets, namely (in descending order): Thailand, Bulgaria, Ukraine, Kenya, Peru, Taiwan, Morocco, Vietnam, Pakistan and the Philippines. These markets saw clean energy capacity grow by 91%, three times faster than any other supply option.

Within the clean energy sector in these ten markets, solar took the lead with a 43% share, or US$12 billion in investments. Wind followed with 28% of the total investment, or US$7.7 billion; Pakistan, Bulgaria and Ukraine accounted for the majority of this total. Vietnam was the leader in small hydropower investments; Thailand saw the largest addition of biomass generation capacity; and Kenya added nearly all the new geothermal capacity.

The report predicts that, over the next 15 years, developing countries will claim the majority of global growth in power capacity. According to Clean Energy Initiative Director Phyllis Cuttino, “Developing countries are prioritizing solar, wind, and other renewable energy sources in order to reduce energy poverty, power economic progress, enhance national security by reducing imports, and protect the environment.” She stressed that this opens important export opportunities for clean energy technologies.

The report was launched at the Second Annual Sustainable Energy for All (SE4ALL) Forum being held 18-21 May 2015 in New Yorky, US. [Publication: Power Shifts—Emerging Clean Energy Markets] [Pew Press Release] [Pew Clean Energy Initiative Website] [Report Launch Event Webpage]