Pathways to Accelerate and Embrace the Deployment of Clean Energy Revolution by Developing Nations

Clean Energy

There is big opportunity now for developing nations to embrace the clean energy revolution for socio-economic development following the just concluded Paris summit. The importance of energy for development is increasingly important to bridge the energy gap as most developing countries have been slow to expand their energy systems.

While the world still depends on fossil fuels called dirty energy, time has come for a paradigm shift to cleaner and sustainable energy prompting global energy discourse and the recent COP 21 summit in Paris.  Unlike Europe already making a move towards sustainable energy system, developing, countries’ energy crisis is one of the greatest developmental challenge of our generation. Energy deficit remains a powerful brake on economic growth and poverty reduction. With over half of world population without reliable, affordable energy, there is need to embrace cleaner energy system. Investment clime, massive investment, right policy framework is needed for an accelerated cleaner energy revolution

Developing countries faces chronic energy shortages. Despite abundant low-carbon, low-cost clean energy resources, it has developed less than 8% of its hydro-power, Geo –thermal, solar and wind capacity  and its total energy generation is lower than any other comparable regions in the world. The quantum of investments in clean energy exceeds available finance and high risks and upfront development costs, inconsistent government policies typically precludes private investment. With its strength of fast growing economies which exacerbates the demand for energy and gloom in the global oil prices which serves as revenue for most governments’ there is need for a state of emergency in the clean energy investments by scaling up finance, research, capacity and greater participation of the private sector and foreign direct investment to guarantee universal energy access by 2030.