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To become prosperous and globally competitive, emerging economies require reliable, affordable, and abundant energy for industry and households
Energy is essential for economic growth and the basis of modern lifestyles, yet more than a billion people worldwide live without access to electricity. For millions who may have some access, power is too unreliable or expensive to achieve real prosperity. Boosting generation and expanding access are top priorities for African governments and their partners, including through the US Power Africa Initiative and the Electrify Africa Act. CGD research seeks to redefine what the world means by “modern energy” and to suggest ways to provide energy at scale for development to flourish.
Energy is a colossal development issue, touching on virtually every aspect of human progress from health and education to job and wealth creation. Modern energy access got its own Sustainable Development Goal (#7). Here are my three all-time favorite videos about the power unleashed by delivering energy to people—and what we can do about it.
At this time of the year, sparkling trees and decorated lawns have taken over. A 2008 study from the US Energy Department’s Energy Information Administration (EIA) found that decorative seasonal lights accounted for 6.6 billion kilowatt hours of electricity consumption every year in the United States. That’s just 0.2% of the country’s total electricity usage, but it could run 14 million refrigerators. It’s also more than the national electricity consumption of many developing countries, such as El Salvador, Ethiopia, Tanzania, Nepal, or Cambodia.
“Energy Sustainability” is high on the agenda for the G-20 meeting in Antalya, Turkey, next week. In practice, this means the governments of the world’s leading economies will pledge to continue the laudable goals of phasing out inefficient subsides and boosting energy efficiency. But the meatier agenda is two wonkier research items. According to the Turkish presidency priorities communiqué (PDF), the G-20 will “study the reasons behind the high cost of renewable energy investment and examine the deployment of public and private resources to fulfill the need for energy investment.”
Power Africa has the potential to be a game changer for US foreign assistance and for how the United States works with Sub-Saharan Africa. Congressional authorization is needed to solidify Power Africa beyond President Obama's tenure. That’s why we were thrilled to see Electrify Africa pass the House last year (297-117) with bipartisan support and see nearly identical texts introduced this year in both the House andSenate (S. 1933 and H.R. 2847). Yet it was a disappointment to see that the bill dropped the key language related to the Overseas Private Investment Corporation (OPIC) as introduced earlier this year.