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Emerging-market energy transition likely to take time

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Emerging-market energy transition likely to take time

Investing.com -- While North America and Europe have been reducing their reliance on coal for decades, emerging markets are still heavily dependent on it, note analysts at

Since 2005, coal use in North America and Europe has halved, while India’s has nearly tripled. Together, China, India, and Southeast Asia now represent roughly 75% of global coal demand, a stark increase from 25% in 1990. For example, coal represents 53% of China’s domestic power consumption, according to Energy Institute data. Although China has started investing in green energy, Wells Fargo predicts this shift will take time before renewable sources become dominant.

“We expect fossil fuels to remain the predominant source of energy for many emerging economies,” they explained.

 

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