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Analysis on Wednesday showed fossil fuel generation had peaked globally as emerging markets opted for cheaper renewable energy technologies as part of the global shift to clean energy
.
New research from India's Energy, Environment and Water Commission (CEEW) and financial think tank Carbon Tracker shows that emerging markets are already "leapfrogging" away from fossil fuel infrastructure and moving directly towards green power generation
.
Renewable energy sources such as solar and wind have become the cheapest new sources of electricity in 90% of the global market, meaning developing countries can avoid oil and gas
as they seek to meet their growing electricity needs.
"Electricity supply growth in emerging markets will all come from renewables," said
Kingsmill Bond, energy strategist at Carbon Tracker and co-author of the report.
"This move will reduce the cost of its fossil fuel imports, create jobs in the domestic clean energy industry, and save millions of lives
lost to fossil fuel pollutants.
"
Since 2010, India's solar capacity has increased from 20 GW to 96 GW
.
Renewables, including electricity generated by large hydropower projects, now account for 37 percent
of India's energy capacity, the analysis said.
Analysis on Wednesday showed fossil fuel generation had peaked globally as emerging markets opted for cheaper renewable energy technologies as part of the global shift to clean energy
.
New research from India's Energy, Environment and Water Commission (CEEW) and financial think tank Carbon Tracker shows that emerging markets are already "leapfrogging" away from fossil fuel infrastructure and moving directly towards green power generation
.
Renewable energy sources such as solar and wind have become the cheapest new sources of electricity in 90% of the global market, meaning developing countries can avoid oil and gas
as they seek to meet their growing electricity needs.
"Electricity supply growth in emerging markets will all come from renewables," said
Kingsmill Bond, energy strategist at Carbon Tracker and co-author of the report.
"This move will reduce the cost of its fossil fuel imports, create jobs in the domestic clean energy industry, and save millions of lives
lost to fossil fuel pollutants.
"
Since 2010, India's solar capacity has increased from 20 GW to 96 GW
.
Renewables, including electricity generated by large hydropower projects, now account for 37 percent
of India's energy capacity, the analysis said.