ASEAN quickly turning to renewable energy hub

Published onJanuary 9, 2020

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 to address the issue. Consumers driving the green agenda forward and the entry of new funds into the ASEAN renewable energy market are two other trends identified in the report. Each of ASEAN’s 10 members have set targets for renewable energy, and technological innovations such as better solar power efficiency and floating solar panels means that renewable energy is now more accessible than ever before.