Renewable energy may be the light at the end of the tunnel for 1.4 billion people who have no access to electricity, according to an UN agency. It also states that 85 percent of this 1.4 live in rural parts of developing countries. In South Asia alone, 42 percent of the population lives in the dark.

The 'Technology and Innovation report 2011', released on Tuesday by the United Nations Conference on Trade and Development (UNCTAD) says, "Energy poverty remains the key isse in the interface of climate change and development."

“RETs can be an important means of energy supply through semi-grid and non-grid solutions,” it added.

The report also held that larger developing counties like China and India would also benefit from RET as this would mean a gradual reduction of carbon intensity in their economies. This could offset the likely increase as they push ahead with industrial development over the next decade.

UNCTAD praised India's  RET in the report while noting that Brazil and China were also making significant progress in the sector. “The experiences of China, India and other emerging economies show that public support, political will and concerted policy coordination are key to promoting technological capabilities over time,” it said.

It has advocated the setting up of a "technology transfer fund for RETs which could act as a licensing pool for renewable energy technologies, offering RETs at subsidised rates to firms from least developing countries and developing countries."

The United Nations has declared 2012 as International Year of Sustainable Energy for All.

Read the report