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Jul 16, 2021

Fossil fuel electricity generation has peaked worldwide

Posted by in categories: economics, energy, finance

“Emerging markets have no need to build up huge electrical infrastructure based on fossil fuels. Instead, they are leapfrogging this stage and meeting growth in demand by deploying clean energy systems — such as wind and solar — with huge potential to boost economic development and bring electricity to millions more people.”


Fossil fuel electricity generation has peaked worldwide as emerging markets seize the opportunities of low-cost renewables, according to a report published this week by India’s Council on Energy, Environment and Water (CEEW) and the financial think tank Carbon Tracker.

Renewables are already the cheapest source of new electricity additions in 90% of the world, the report notes. Emerging markets (non-OECD nations plus Chile, Colombia, Mexico and Costa Rica) therefore have no need to build up huge electrical infrastructure based on fossil fuels. Instead, they are leapfrogging this stage and meeting growth in demand by deploying clean energy systems – such as wind and solar – with huge potential to boost economic development and bring electricity to millions more people.

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