This year, emerging markets will overtake developed nations in terms of the amount of renewable wind and solar power they have installed, according to Moody’s, the credit rating agency.
In the decade to 2016, the amount of solar power generated across the world has risen by 50 per cent, while wind has increased by 22 per cent, according to BP’s annual review of world energy.
While developed economies have been leaders in the development of renewable power, much of the recent momentum has come from developing nations — and from China and India in particular, which are now the biggest and the third-biggest renewable electricity markets, respectively.
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