India, China to lead renewables boom in emerging countries by 2020

Dec 14, 2012 - Renewables capacity in India, Mexico, China, South Africa, Russia, Brazil and Indonesia is seen to surge from 127 GW in 2012 to 403 GW by 2020, driven by growth of China and India, a report from research firm GlobalData says.

According to the study "Power Markets in Emerging Economies: Market Outlook, Capacity and Generation, Opportunities and Challenges to 2020" capacity in these seven countries is to grow at a compound annual growth rate (CAGR) of 14.1%.

The wind energy segment in China is seen to be responsible for a great part of the growth, expected to rise from 62 GW of installed capacity in 2011 to 195 GW in 2020, GlobalData says. By the end of the decade the country is seen having 274 GW of green energy capacity.

In India, the total installed capacity of the renewable energy sector is projected to increase at a CAGR of 15.5% and hit 78 GW by the end of 2020 from 20 GW in 2011. This will be helped by the country's target to use its water, solar, biomass and biofuel resources.

Brazil, Russia, India and China accounted for 94.5% of the total installed renewable capacity for 2011, the study shows.

As for power consumption, all of the seven countries are seen to boost their combined share of the global amount from 36% in 2011 to 42% in 2020.

Choose your newsletter by Renewables Now. Join for free!