Climatescope 2018 is a report by Bloomberg New Energy Finance (BNEF) that compiles and analyzes data on clean energy deployment, investment, and government policies in 103 developing nations. According to the report, developing nations are now leading the global clean power transition.
Key findings include the following:
Climatescope's free searchable database with profiles of all 103 countries can be accessed here.
Key findings include the following:
- Renewables: For the first time, renewables accounted for the majority of all new power-generating capacity added in developing countries
- Financings: In 2017, new clean energy financings in emerging markets totaled $143 billion (Figure 1). Foreign direct investment supporting clean energy rose to an all-time high of $21.4 billion.
- Costs: Clean energy costs continue to fall, making clean energy technologies competitive with fossil generation in many markets. Over 35 emerging markets have held reverse auctions for clean power-delivery contracts to date, including Mexico ($21/MWh for PV) and India ($41/MWh; wind). BNEF's estimated levelized cost of electricity for wind and solar is below $50 for many developing nations.
- Coal Trends: In 2017, new coal-fired capacity additions fell to their lowest level in over a decade, but actual generation from existing coal-fired plants rose 4%.
- Challenges: Challenges include how to address the continued reliance on coal - particularly in China and India - and how to effectively integrate large amounts of low cost intermittent clean electricity into existing market structures.
Climatescope's free searchable database with profiles of all 103 countries can be accessed here.
Figure 1: Developing Country Clean Energy Investment
Source: Bloomberg New Energy Finance. Includes 100 non-OECD nations plus Chile, Mexico, and Turkey.
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