By Luiza Demôro, Global Head of Energy Transitions, and Ana Paula Teixeira, Country Transitions Associate, BloombergNEF
Clean energy technologies have undergone a remarkable transformation over the past decade. Costs have dropped dramatically, and the perceived risk of investment has significantly declined. Solar and wind have emerged as the cheapest sources of electricity in many markets. And newer technologies are paving the way for decarbonizing hard-to-abate sectors and integrating more renewables into the grid. Yet, despite these global strides, energy transition investment in emerging markets has remained constrained.
Accelerating the Energy Transition in Emerging Markets report, commissioned by the Climate Investment Funds (CIF), a multilateral climate fund housed within the World Bank, explores how the CIF can help unlock investment flows in and to emerging markets. Focusing on five key technologies – solar, on- and offshore wind, batteries and clean hydrogen – the report considers how targeted interventions can drive down costs, speed buildout and establish an environment conducive to these technologies’ deployment.
- Accelerating the deployment of mature technologies.
- Phasing out carbon-intensive activities.
- Supporting the development and deployment of new technologies.
These pillars inform the structure of this study, with a particular focus on supporting renewables, speeding the phase-out of coal, and accelerating the development and deployment of clean hydrogen.
To download the full report, click here.
Note: This report, produced for the CIF by BloombergNEF, aims to improve the understanding of how the CIF, its partners and other development institutions can unlock capital, spur the progress of clean technologies, and accelerate energy system transformations in emerging markets. By analyzing an array of approaches, such as targeting technology deployment and pushing forward clean hydrogen, this report lays out potential pathways to provide quick, effective, and lasting support for clean energy in emerging economies.