• With 60 percent of the global population, the Global South has only 20 percent of fossil fuel production and reserves, and oil and gas production are in decline. As a result, it is already a net importer of fossil fuels. In contrast, the Global South is rich in renewables, with 70 percent of global renewable potential.
• In 2024, 87 percent of capital expenditures on electricity generation will go into clean energy. Over the past five years, solar and wind generation in the Global South has grown on average at 23 percent annually, now supplying 9 percent of its electricity. Global South solar and wind adoption is only five years behind the Global North.
• One-fifth of the Global South, from Brazil to Morocco and Namibia, from Bangladesh to Egypt and Vietnam, has already overtaken the Global North in terms of the share of solar and wind in electricity generation, or the share of electricity in final energy.

While there are grounds for optimism, more action is needed to speed up change. Solutions include domestic policy, reform of development banks, catalytic and concessional finance directed especially to poor and vulnerable countries, and technology transfer. As COP29 approaches, now is the time for countries’ policies to reflect the new economic reality of cleantech.......read the report     https://rmi.org/insight/powering-up-the-global-south/ 

About the project

RMI, in partnership with Aboitiz Renewables and the Southeast Asia Clean Energy Facility (SEACEF), and funded by the United States Trade and Development Agency (USTDA) and Tara Climate Foundation, released Philippine Market Movers in support of the Philippine government’s push for renewable energy development in the country.....read the report..............Please click here to manually start the download. If you'd like to stay informed with the latest RMI news and insights, sign up for our weekly e-newsletter here.

Record-breaking growth in renewable energy in US threatened by Trump. Surge in solar, wind and battery capacity comes as president pledges to halt federal support for clean power. Guardian Dharna Noor12 Feb 2025The US had record-breaking growth in renewable-energy capacity last year, new research shows, but the future of the sector is uncertain amid threats from Donald Trump’s administration. The country brought online 48.2 gigawatts of capacity from utility-scale solar, wind and battery storage in 2024, according to a report from the research organization Cleanview; the report is based on an analysis of federal data. That surge in capacity – enough to power some 3.6m homes – was 47% larger than the increase the US saw in the previous year.

This unprecedented growth is attributable in part to the falling cost of renewables, said Michael Thomas, the founder of Cleanview and author of the report. An even bigger factor, he said, was Biden’s 2022 Inflation Reduction Act (IRA) and its historic incentives for green technologies. “The IRA changed the landscape,” he said.The report comes as renewable power is being targeted by Trump, who has pledged to halt federal support for clean power as part of his pro-fossil fuel agenda. If he follows through on these promises, they could have devastating effects for the sector and the economy, experts say.“The clean-energy sector is rapidly growing globally, and halting investments can also undermine America’s competitive edge within the renewable energy market,” Nathan Schluter, an energy expert at the consumer advocacy organization Home Energy Club, said in an email. Still, though the president could hamper the growth of clean power, all hope for the sector may not be lost under his administration, Thomas said. “We don’t know what the future looks like right now. No one does,” he said. Even as US fossil fuel production soared to record levels last year, the vast majority of the new energy capacity the nation brought online was carbon-free. Renewables accounted for a combined 93% of all new capacity last year, with nuclear power adding another 2%. It was a sign we are in the “era of zero-emissions energy”, said Thomas. But not all renewable fuel sources are growing at the same rate. The solar-power and battery industries – often paired, with batteries storing power from the sun – saw record success in 2024. Growth in wind power, by contrast, has stagnated, with the US adding less wind capacity each year than before the passage of the Inflation Reduction Act. In 2024, the country brought only 5.1 gigawatts of the power source online, accounting for just 9% of all new energy deployed nationwide last year.

Solar and batteries......In 2024, solar power saw the fastest growth in red southern states.....read on            https://www.theguardian.com/us-news/2025/feb/12/renewable-energy-growth-trump