🌍 Renewable energy sources growing twice as fast in Global South compared to Global North

• Investments in clean energy are now seven times larger than in fossil energy in the Global South's electricity production, compared to an even split ten years ago.
• One-fifth of countries in the Global South have already surpassed wealthy nations in key statistics on solar and wind power usage or electrification.
• In eight countries in sub-Saharan Africa, solar energy's share of electricity is more than twice as high as in the USA.

Dramatic reallocation of capital

A new report from RMI shows that countries in the Global South – which includes Latin America, Africa, South Asia, and Southeast Asia – are increasing their share of electricity from solar and wind power twice as fast as countries in the Global North.

Investment patterns for electricity have changed dramatically. In 2024, investments in clean energy sources exceeded fossil fuels by seven times in the Global South's electricity capital, compared to an even split just ten years earlier.

This shift is visible across all regions. Although investments have been lower in Africa, the recent summit created new opportunities – with major development banks pledging more than $50 billion in financing through 2030.

Solar and wind power follow the same growth pattern

Solar and wind power production in the Global South follows the same S-curve growth pattern as the Global North and China. Over the past five years, the share of solar and wind in electricity has improved at an average annual rate of 23 percent (compared to 11 percent in the Global North).

Latin America is leading the development with South Asia following closely. African countries are also committed to increasing renewable energy production. At the recent summit in Dar Es Salaam, 12 countries presented national energy compacts establishing clear, country-specific targets to expand infrastructure and enhance private sector participation.

Faster growth than in the Global North

In the new energy game, many countries in the Global South are showing their wealthier counterparts how it's done. One-fifth of the Global South – from Brazil to Morocco, Bangladesh to Egypt, and Namibia to Vietnam – has already surpassed the Global North in key statistics on solar and wind power usage or electrification.

In eight countries in sub-Saharan Africa, solar energy's share of electricity is more than twice as high as in the USA. Latin America is advancing faster than China in terms of solar and wind power share, and Southeast Asia is on track to do the same if recent growth continues.

Driven by local action

Much of this trend is driven by energy consumers looking to save on electricity costs. Satellite images from parts of Pakistan show nearly every building covered with solar panels. Tanzania's access to electricity has more than tripled over the past decade, from 14 percent in 2011 to 46 percent in 2022.

From Namibia to Barbados, solar panels from China alone have roughly doubled the total capacity of some nations' electricity systems in just a few years. With panel costs dropping by 35 percent in 2024 alone, progress is unlikely to slow down anytime soon.

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