Technological innovations and favourable government policies are among the four trends expected to drive Southeast Asia’s transition to renewable energy in the coming years. A report published by global auditing firm KPMG titled ‘The Renewable Energy Transition’ noted that while there are still 70 million ASEAN citizens without access to reliable electricity, the potential for renewable energy is huge in those markets and governments are increasingly turning to solar and wind energy
Indonesia is the largest energy consumer among all ASEAN member states, and with over 260 million people, energy demand in the archipelagic country is growing rapidly and is expected to rise by nearly four gigawatts (GW) to 66.6 GW this year.
Technological innovations and favourable government policies are among the four trends expected to drive Southeast Asia’s transition to renewable energy in the coming years. A report published by global auditing firm KPMG on Tuesday titled ‘The Renewable Energy Transition’ noted that while there are still 70 million ASEAN citizens without access to reliable electricity, the potential for renewable energy is huge in those markets and governments are increasingly turning to solar and w
In October, the United Nations (UN) released a report which highlighted that the world could be on the brink of a climate change disaster if immediate measures are not taken. Leading scientists behind the report have said that the world only has 12 years to keep global warming at a maximum of 1.5 degrees Celsius or it could face a risk of severe drought, flooding and extreme heat for millions of people. The effects of climate change have already been seen in the region.
The International Renewable Energy Agency (IRENA) and the Association of Southeast Asian Nations (ASEAN) have forged a new partnership which aims to scale up renewable energy deployment in the region and advance the transition towards an energy sustainable future. A memorandum was signed on the side-lines of the 36th ASEAN Ministers on Energy (AMEM) and the Singapore International Energy Week (SIEW) on 30 October, 2018.
Estimates by the International Renewable Energy Association (IRENA) and the ASEAN Centre for Energy (ACE) indicate that US$290 billion of total investment in renewable energy capacity will be necessary to attain the regional aspirational target of 23 percent primary energy from renewable energy by 2025. Hence, renewable energy investment would need to be substantially scaled up to an estimated US$27 billion annually.
Hydropower in Southeast Asia holds much promise. According to the International Renewable Energy Agency (IRENA), hydropower capacity in the region grew almost threefold from 16 GW to 44 GW between 2000 and 2016. The major users of hydropower technology are Association of Southeast Asian Nations’ (ASEAN) members in the Indochinese region and the Philippines.
The path towards meeting the Association of Southeast Asian Nations’ (ASEAN) goal of securing 23 percent of its primary energy from renewable resources by 2025 is no simple feat. Based on policies that are being currently practiced and are in consideration for the future, the region’s renewable energy share in its primary mix is only slated to reach 17 percent by 2025.This leaves a 6 percent gap between target and actual rate of adoption.
Southeast Asia has abundant energy resources but is generally slow to diversify its energy mix to include renewable energy (RE) sources, according to the ‘Renewable Energy Market Analysis – Southeast Asia’ report by the International Renewable Energy Agency (IRENA). This is due in part to problems accessing adequate financing for such projects.
The Philippines was recently ranked number one for environmental sustainability by the World Energy Council (WEC), in January 2018.
Southeast Asia has varying wind energy resources with Philippines leading the way in terms of having the biggest potential. According to International Energy Agency’s (IEA) 2017 Southeast Asia Energy Outlook report, it is stated that the Philippines has an estimated technical potential of “around 70GW”.
The Association of Southeast Asian Nations (ASEAN) has set an ambitious target of securing 23% of its primary energy from renewable sources by 2025 as energy demand in the region will grow by 50%.