The electric fast-track for emerging markets

This report by Ember and the Climate Vulnerable Forum (CVF) argues that falling costs for 'electrotech'—solar, batteries, and electric end-use technologies—provide a faster and cheaper path to energy access and economic development for emerging markets than traditional fossil-fuel-based models. It highlights how many CVF nations are already leapfrogging developed economies in solar penetration and electrification, reducing their dependence on expensive fossil fuel imports.

• A significant portion of Climate Vulnerable Forum (CVF) nations have surpassed the United States in solar and electric adoption. Specifically, 46% of CVF nations, measured by electricity demand, have overtaken the US in solar penetration, and approximately 51% have surpassed it in economy-wide electrification.
• Official statistics likely underestimate the scale of solar adoption in CVF countries. In 80% of these nations, the cumulative volume of solar imports since 2017 is at least three times higher than the installed capacity recorded in official statistics.
• The economic viability of solar power has shifted; it now requires less upfront capital expenditure (capex) than fossil power plants. A decade ago, solar could require up to five times the upfront investment of a comparable coal or gas plant per MWh, but it is now competitive on a pure capex basis.
• Decentralised solar-plus-battery systems are becoming a viable alternative to grid extension for remote communities. By 2026, these systems are cheaper than extending the grid for any community located more than a few tens of kilometres from existing lines.
• The cost of electric end-use technologies in CVF countries has decreased by 30–95% over the last ten years, making services like electric two-wheelers and cooling more accessible to low-income households and businesses.
• Fossil fuel imports represent a major economic drain for CVF nations. In 2024, net fossil imports cost these countries approximately $155 billion. In some countries, these imports account for over 50% of the trade deficit, including Morocco (79%), Pakistan (67%), and Bangladesh (59%).
• CVF nations possess strategic geopolitical leverage through three key assets: critical minerals, favourable manufacturing geography, and fast-growing consumer markets. This allows them to negotiate with competing blocs, namely China, the European Union, and the United States.

APA

Walter, D., Butler-Sloss, S., Issac, A., & Bond, K. (2026). The electric fast-track for emerging markets. Ember. https://ember-energy.org/app/uploads/2026/04/The-electric-fast-track-for-emerging-markets-PDF-1.pdf

Chicago

Walter, Daan, Sam Butler-Sloss, Antoine Issac, and Kingsmill Bond. The electric fast-track for emerging markets. Ember, 2026. https://ember-energy.org/app/uploads/2026/04/The-electric-fast-track-for-emerging-markets-PDF-1.pdf.

Wikipedia

{{cite report |last1=Walter |first1=Daan |last2=Butler-Sloss |first2=Sam |last3=Issac |first3=Antoine |last4=Bond |first4=Kingsmill |title=The electric fast-track for emerging markets |publisher=Ember |date=2 April 2026 |url=https://ember-energy.org/app/uploads/2026/04/The-electric-fast-track-for-emerging-markets-PDF-1.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{walter2026electric, author = {Walter, Daan and Butler-Sloss, Sam and Issac, Antoine and Bond, Kingsmill}, title = {{The electric fast-track for emerging markets}}, institution = {Ember}, year = {2026}, month = apr, url = {https://ember-energy.org/app/uploads/2026/04/The-electric-fast-track-for-emerging-markets-PDF-1.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }