Renewable electricity is becoming increasingly affordable, leading many of the world's poorest countries to invest in solar, wind, and hydropower instead of fossil fuels. As emerging economies grow, they are not following the fossil fuel path taken by industrialized nations in the 19th and 20th centuries, but rather focusing on renewable energy sources. This shift is partly due to the legacy infrastructure challenges faced by wealthier nations that have historically relied on fossil fuels, which have contributed to the climate crisis linked to extreme weather events.
Countries in Southeast Asia and Sub-Saharan Africa are now prioritizing renewable energy, with solar power often cheaper to produce than fossil fuel electricity. Unlike large coal or gas plants, solar and wind farms can be constructed more quickly and with lower initial investments. Additionally, the cost of electronic devices that rely on electricity has decreased, making electricity a more viable option for everyday needs.
Electric vehicles are also becoming more affordable, with a UN study indicating that in countries like India, Indonesia, and Vietnam, electric scooters and motorbikes are now comparable in price to petrol models. This trend towards renewable electricity is not only beneficial for the environment but also economically advantageous for consumers.
Kingsmill Bond, an energy strategist at Ember, noted that emerging markets are experiencing rapid electrification, while developed regions are stagnating. In 2023, renewables accounted for about 25% of global electricity generation, with solar and wind making up nearly all new capacity additions. Lower-income countries are utilizing more renewable energy than their higher-income counterparts, with India and Vietnam achieving significant shares of solar power in their electricity generation.
Countries like Kenya, Ethiopia, and Namibia are expanding their energy infrastructure to meet the demands of their growing populations, although many rural areas still lack reliable electricity access. Joel Nana from Sustainable Energy Africa highlighted that solar power offers a solution for energy access and independence, especially in regions where importing fuel is costly.
The potential for solar energy in Sub-Saharan Africa is significant, as the region receives ample sunlight and has space for solar farms. Nana's analysis indicates that approximately 100,000 solar panels were installed daily across Africa in 2026, reflecting a 45% increase from the previous year. Similar trends are observed globally, with countries like Pakistan also investing heavily in solar technology.
Aleksi Lumijärvi from the International Renewable Energy Association emphasized that these shifts could reshape the global economy, making it more cost-effective for companies to relocate production to regions with abundant renewable energy. Bond stated that affordable electricity could lead to faster growth in emerging markets and improved living standards.
Nana urged African governments to implement policies that ensure equitable benefits from the solar boom, predicting a move towards decentralized energy grids in the coming years. He emphasized the need for national strategies that incorporate renewable technology to maximize competitive advantages.