Energy experts from Compare the Market studied the forecasted renewable electricity generation per capita in 2028 across 39 economically-developed countries. Mexico is projected to only produce 0.73 TWh of renewable energy per million people by 2028, with no net zero emissions target pledge.
The bottom of the index was trailed by Türkiye, which will generate 2.48 TWh in renewables for every million people by 2028 with a 2053 net zero target. South Africa is only expected to produce 0.83 TWh per million people with a slightly earlier 2050 net zero target.
On the other hand, Finland, Sweden and Norway topped the renewables race index with a high proportion of forecasted renewable energy generation relative to each nation's projected population in 2028, in addition to more ambitious net zero emissions targets.
Compare the Market's Head of Energy, Meredith O'Brien, said as countries transition to be renewable energy powered, this could result in cheaper future electricity bills.
“Renewable energy is simply cheaper to produce than relying on the highly volatile prices of coal and gas, particularly from wind and solar infrastructure” said Ms O'Brien. “European nations led the renewables race index with stronger investment policies and more ambitious net zero emissions targets, with Finland and Sweden leading the study. Amid cost-of-living pressures, households today can already be a step ahead and save money by using smart plugs to adjust energy usage habits, adopting more efficient LED lights and appliances, and investing in heat pumps, insulation and double glazed windows. As renewable energy technology expands and improves, the investment costs are coming down which means you'll reap from the savings even quicker.”
For additional information:
