New report finds the declining costs of wind and solar technologies are presenting an opportunity to leapfrog fossil fuel power generation in many parts of the world
Solar panels in Uttar Pradesh, India (Credit: Maneesh Agnihotri/Shutterstock)
Fossil fuel electricity generation has hit its peak globally, according to a new study, with emerging markets ready to “leapfrog” coal and gas in favour of renewable alternatives.
The report from financial think tank Carbon Tracker and India’s Council on Energy, Environment and Water (CEEW) finds demand for fossil fuels in electricity production has now either peaked or plateaued in 63% of emerging markets excluding China, while consumption has peaked in all but two developed economies.