Here’s why developing countries should continue investment in renewable energy

While some developed nations may believe that promoting clean energy puts burden on the residents of poor countries, the reality is simply the other way round. In fact, several developing countries have started leading the scene as far as the use of energy from clean sources is concerned. They are significantly investing in renewables, as they think that it can be quite economical as compared to fossil fuel energy. Check out some more reasons behind their growing inclination toward greener energy sources.

Picking up the low-cost option

low-cost option

Several studies have shown a significant growth percentage of emerging economies’ contribution to clean energy capacity. This has been majorly happening due to their perception of greener sources as low-cost sources of energy. Currently, the installation technologies are available at cost-competitive rates. Thus, the reach of developing countries to these technologies has gown wider and easier.

Ample natural resources

Young Woman by Wind Turbine

It is not simply about the cost of system installation. It is also about the availability of natural resources from which power may be generated. Such resources are available in plenty in various developing countries. Whether you see China, India, Brazil or South Africa, they have largely available solar, wind, biomass, hydro and geothermal resources. Thus, these nations are looking forward to tap their wonderful resources to generate power at low cost. The reason of their increased cost of electricity is their current reliance on diesel fuels. Thus, they have moved on to change the situation now.

Lack of options

a big lump of coal is held with two hands isolated on white background

In developing countries, you would mostly find millions of homes that go without electricity each day. As they have limited fossil fuels, there is a lack of options for generating enough energy. Because of their limited options, they are moving toward the obvious choice of using natural resources for power generation. This can give them clean energy on a large scale and remove their energy poverty.

Economic progress

Financial concept

Developing countries are also focusing on improving their economic conditions through the use of natural power sources. Once they invest in renewables, their domestic demands can be met easily, without depending on major imports. This can give a push to their economic progress and ensure safety of their nation. Further, this step can also help them in serving the environment and making it cleaner for living. Thus, even the citizens can be given a better life by increasing investment in greener and cleaner energy.

Developing nations are rich in natural resources and want to generate low-cost power through these resources. They are increasing investments in greener energy projects in order to serve their energy demands at lower costs.

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