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Growing demand for power in the developing world presents an opportunity.

New technologies mean this demand can be met in a sustainable way.

Renewables could also mean greater independence for these countries.

Explanation:

Can emerging economies leapfrog the energy transition?

Around half of current total global carbon emissions are a result of electricity and heat production. At the same time, there are still more 860 million people across the globe that lack access to energy. As countries strive to grow their economies, how can we effectively and efficiently balance people’s need for access to reliable and affordable energy while ensuring that we continue to reduce global emissions?

As the signatory states of the Paris agreement seek to meet their emission-reduction targets, the integration of renewable energy sources will continue to increase; the nationally determined contributions (NDC) pledged at Paris have proven inadequate to meet climate goals, and the updated targets will require 3.3 times the current global capacity. A decarbonized grid in the near future seems very possible, especially with the falling costs of solar PV and wind energy, coupled with the rapid advancements in energy-storage technologies.

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