Emerging markets are set to eclipse developed nations next year in their capacity to generate wind and solar power.
Credit to this fit is due to equipment costs decreases and as the energy market approaches “peak coal”, according to Moody’s, the credit rating agency.
The Financial Times says:
“While developed countries have long been leaders in renewable power generation, emerging economies are close to overtaking them, bringing their total installed capacity of wind and solar to 307GW and 272GW — respectively 51 percent and 53 percent of global capacity, according to Moody’s calculations.”
China accounts for the lion’s share of the upsurge.