Non-OECD countries will have to double their investments in the electricity sector by 2040.
That’s necessary to keep pace with demand, according to the World Economic Forum (WEF).
Its ‘Future of Electricity 2016’ report offers suggestions to improve investment in the power sector.
It recommends policymakers of those countries to develop long term roadmaps to ensure balance between renewable and conventional, decentralised and distributed power generation.
Policies need to be integrated across the power value chain to ensure the upstream fuel supply and generation assets are developed in parallel to transmission and distribution.
The report recommends regulators to provide a level playing field for technologies reflecting carbon abatement and security of supply.
Businesses and investors should invest in R&D and boost research in universities.
Roberto Bocca, Head of the Energy Industries of the WEF said: “From 2000-2014, non-OECD countries invested on a par with OECD countries – about $240 billion (£163.2bn) annually. But given the amount of electricity infrastructure that needs to be built in fast-growing countries to serve growing demand, fast-growing countries will not only have to double their investments but also ensure that these funds are used to develop all parts of the value chain so that none is left stranded or underdeveloped.”