USAID Clean Power Asia
Harnessing the power of renewable energy for a sustainable ASEAN
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From 2020 to 2025, global renewable energy capacity is projected to grow by 50%, likely led by solar photovoltaic and onshore wind. It would be a mistake, however, for developers and insurers to overlook the prospects for offshore wind. Offshore wind power has seen strong growth in recent years and presents significant untapped potential. Around the world, the sector has seen average annual growth of 30% from 2000 to 2018. Total capacity is projected to increase threefold by 2025. Notably, momentum in offshore wind has shifted from Europe to Asia. Of the 17 GW of offshore turbines ordered globally last year, China alone accounted for 76% of those orders; as a region, Asia accounted for 88%. In recent years, Asian countries have considered ramping up investment in offshore wind power due to its high economic efficiency and support for the low-carbon transition.
Southeast Asia’s wind power sector requires at least US$14 billion of investments by 2030, says Wood Mackenzie. This is to support the 8.9 GW of new wind power capacity that Wood Mackenzie expects to be added between 2020 and 2029. With a population exceeding 650 million and average annual power demand growing at 8% until 2030, Southeast Asia is one of the world’s fastest growing power markets. To support this growth, the region’s governments are setting renewable energy targets to diversify their energy mix to be more energy self-sufficient. Wood Mackenzie Principal Analyst Robert Liew said: “Currently there are about 20.7 GW of planned wind power capacity in the pipeline, but we think less than half or 8.9 GW will be realised by 2030. The coronavirus pandemic has slowed development in 2020, as border closures delay equipment transportation and prevented foreign technical staff support in these nascent Southeast Asian markets.
The future of the country’s power sources: How renewable and clean energy can sustain the next generations
The future of energy is headed in the direction of a cleaner, more efficient, and sustainable sources. The world’s largest economies, led by Germany, Japan, and the United Kingdom, are rolling out plans to transition from coal to more sustainable energy sources, such as solar, hydro, geothermal, and wind energy… But while infinite and free, these resources are not always available to make wind farms and solar panels generate electricity at maximum potential. Issues like this take primary consideration, particularly in developing countries like the Philippines, which suffer from an unreliable supply of electricity and whose people are the first to suffer frequent and severe weather changes caused by climate change.
The year 2020 marks a major turning point in the energy industry of Vietnam, with clean energy strengthening its solid position and establishing itself as a profitable sector with significant potential for development, while coal-fired thermal power no longer holding the position as a favoured energy source in the country. The information was shared in the Vietnam Energy Update Report 2020 recently released by the Centre of Media and Development Initiatives (MDI) under the Vietnam Union of Science and Technology Associations. The report examines key features of the development of Vietnam’s energy sector from August 2019 to August 2020, with a focus on major power generation sources. According to the report, clean energy - including solar and wind - is now making an increasingly important contribution to the national power system, and has become a priority in the country's energy development orientation.