Greener Living
Green Power Worth $5 Trillion Set for Emerging Markets, S&P Says
- 5,800 gigawatts of clean energy poised to be developed by 2040
- Population growth and urbanization to help boost power needs
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Green power projects worth $5.1 trillion are expected to be developed in emerging markets by 2040 as the world shifts to cleaner energy generation to cut emissions, according to S&P Global Commodity Insights.
Population growth, urbanization, economic development and electrification will create 620 terawatt hours of additional power supply requirements in emerging markets every year for the next 15 years, S&P wrote in a report. That’s equivalent to Brazil’s current power needs, it said.