Global South countries are rapidly adopting clean energy, seizing the fastest and cheapest path to prosperity in history.
From the article:
If you had asked us last year who was deploying renewables faster — the Global South or the Global North — we would have thought it safe to say the Global North. But a recent RMI report finds a different reality. When it comes to the share of electricity from solar and wind, the Global South is growing twice as fast as the Global North. And beyond every number, there is a story. From the recent Mission 300 Africa Energy Summit to the upcoming SEforAll Global Forum, global leaders are coming together to make pathbreaking progress on clean energy — and then getting to work on implementation. First, let us set the scene. The Global South — which we define as Latin America, Africa, South Asia, and Southeast Asia — needs much more energy, and it needs it as fast and as cheaply as possible. The Global South uses five times less energy per person than the Global North. Yet, on aggregate, the region has already become a net importer of fossil fuels. Given low domestic reserves on average, the cost and risk of fossil fuel imports could rise to painful heights. In stark contrast, these countries are endowed with 70 percent of the world’s renewable energy potential. This renewable resource keeps getting cheaper and cheaper, outcompeting fossil fuels on price. When incentives are clear, markets move — and cleantech is moving.
