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. Although dependence on fossil fuels has increased in recent years, Indonesia has started adding more renewable energy to its energy mix.
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.
With electricity demand in Vietnam growing 12 percent annually, the Vietnamese government has set a goal to generate 265 billion kilowatt-hours (kWh) of electricity by 2020 and 570 billion kWh of electricity by 2030.
Brunei is blessed with an abundance of fossil fuel deposits that has propelled its economy to prosperity. This high-income nation is now looking to diversify its economy to reduce over-dependence on oil and gas exports for national income.
Last year marked a significant milestone for renewable energy in Thailand where a total of 3 GW of solar installations were deployed in the country. This amounts to 50% of the 2036 target under the country’s current 20-year energy roadmap.
According to a World Bank report on Lao in 2017, the country pleasantly surprised many by becoming one of the fastest growing in the region. The World Bank even ranked Lao as the 13th fastest growing economy of 2016.
With electricity demand in Vietnam growing 12 percent annually, the Vietnamese government has set a goal to generate 265 billion kWh of electricity by 2020 and 570 billion kWh of electricity by 2030.
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 Ag