New report provides detailed analysis of the Energy and Utilities market.
Rapid growth in economy and energy consumption in non-OECD countries will need an expansion in the power generation market. Governments will increasingly be looking to develop renewable energies to avoid power shortages that would stunt development and therefore mitigate government objectives of raising living standards.
Global economic and energy demand growth will be concentrated in developing economies, so there is much potential for the role of renewable energies in emerging markets to expand over the next two decades. Although conventional forms of energy will still dominate the energy mix, the expansion of power-generating capacity in emerging markets will at least partly be supplied by growth in wind, solar, bio and hydropower.
The BRIC – Brazil, Russia, India and China – countries and other emerging markets are facing the twin challenges of promoting economic growth while mitigating the environmental impact of their growth strategies.
While there is criticism that countries such as India and China have balked from making more firm commitments to cutting their GHG emissions, both these countries nevertheless have prioritized renewable energy development as part of their strategy to reduce the carbon intensity of their respective economies per unit of GDP.
Therefore, developing economies led by the BRIC countries are playing an increasingly crucial role, not just in the global economic order, but also in the climate change debate and in the dynamics of global energy supply and demand.
China will be one of the major markets for wind power over the next two decades. China’s National Energy Administration stated that the country aims to more than double its wind power capacity to 30GW by 2020. China will reportedly invest at least $150bn to achieve the 30GW target by 2010.
By 2030, non-OECD economies will account for 59% of global energy consumption, a marked increase from 49.8% in 2006. Also by 2030, non-OECD economies will be emitting 25.8bn mt of carbon dioxide, or 64% of total emissions.
Brazil has huge potential for renewable energy through the burning of bagasse – a waste product from sugarcane production – to generate onsite heat and power. In
Green Energy in Emerging Economies: Renewable investment, capacity growth, and future outlook: http://www.companiesandmarkets.com/r.ashx?id=4374RUS8H271342&prk=a3fea9f68a74c29d77ce6725cd8125f4
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