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Green Power Boom: Developed Countries Reclaim the Leading Position in Renewable Energy Growth

May 27th, 2017

While rapid advancements on the clean energy front are often associated with Europe or North America, in 2015, emerging countries exceeded the developed world in terms of renewable energy investments for the first time. China was the primary driver of impressive growth in solar and wind power capacity over 2013-2015, while Western economies experienced a retraction after enjoying a wave of investment inflows, fueled by generous subsidy schemes, a couple of years earlier.

However, 2016 was as a year of slowdown in global clean energy expenditure, with recent boomer China turning its attention to investments in power grid and electricity market reforms, in order to integrate new renewable capacity. As a result of a 32% decline in Chinese renewable energy investment, developed countries regained the lead in 2016. Despite the nudge, developing economies will continue to be the focal point of investors’ attention in the future however, mostly due to immense clean energy growth potential in countries such as India and Brazil.

global new investments in renewables 2006-2016 developed vs developing countries. Decline in new investments into renewable energy in china in 2016 -32%. future growth of electricity industry 2016-2021, electricity output from renewables 2006-2016.

 

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Justas Gedvilas

Justas Gedvilas is the Industry Analyst at Euromonitor International. He has a master's degree in Economics and Management of the Public Sector from the Free University of Bozen-Bolzano (Italy) and a four year professional experience in a water supply sector. Justas is working with energy and utilities industries and names public policies among his interests. You can find him on LinkedIn.

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