Fossil fuel power demand has 'peaked worldwide' – analysis

PARIS: Electricity generation from fossil fuel has peaked worldwide as emerging markets opt for cheaper renewable technology as part of a global shift to cleaner energy, analysis showed Wednesday.Renewable options such as solar and wind are already the cheapest source of new power generation in 90 percent of the world's markets, meaning developing nations can avoid oil and gas as they seek to meet growing electricity demand.

'The move will cut the costs of their fossil fuel imports, create jobs in domestic clean power industries, and save millions of lives lost to fossil fuel pollutants.''Impediments' The analysis used the example of India - a major polluter and also a main driver of electricity demand growth - to show how power systems might be rapidly decarbonized with the right economic conditions.Since 2010, India's solar capacity has increased nearly five-fold from 20 to 96 gigawatts.

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