GlobalData study shows India and China will lead renewables boom in emerging markets by 2020

A report from the research firm GlobalData indicates that renewables capacity in India, Mexico, China, South Africa, Russia, Brazil and Indonesia will surge from 127 GW in 2012 to 403 GW by 2020, driven mostly by growth in China and India.
GlobalData’s study, “Power Markets in Emerging Economies: Market Outlook, Capacity and Generation, Opportunities and Challenges to 2020” found that capacity in these seven countries will grow at a compounded annual growth rate (CAGR) of 14.1%.
A great part of the growth will come from the wind energy sector in China, which is expected to increase from 62 GW of installed capacity in 2011 to 195 GW in 2020. According to GlobalData, China will have 274 GW of green energy capacity by the end of the decade.
GlobalData predicts that India’s total installed capacity of the renewable energy sector will rise at a CAGR of 15.5% and reach 78 GW by the end of 2020 from 20 GW in 2011, aided by the country’s goal of using its water, solar, biomass and biofuel resources.
The study showed that Brazil, Russia, India and China accounted for 94.5% of the total installed renewable capacity for 2011. GlobalData says as far as power consumption is concerned, all of the seven countries will boost their combined share of the global amount from 36% in 2011 to 42% in 2020. (December 14, 2012)