The revised national power development plan, a new draft of which is to be published by September, is set to add energy blockchain technology to the master plan to allow very small power producers to serve as peer-to-peer electricity traders.
Thailand has installed nearly 3 GW of solar power capacity, more than all other countries of the ten-member Association of Southeast Asian Nations, or ASEAN, combined. Moreover, the country looks to potentially triple its solar power capacity as it looks to renewables to help meet an expected surge in energy demand.
One of the main goals of the ASEAN Plan of Action for Energy Cooperation 2016-2025 is ensuring that citizens have access to electricity. Over the past two decades, ASEAN countries have improved in leaps and bounds with regards to providing electricity for all their citizens, but Cambodia has one of the lowest electrification rates, at just 60 percent, with only 62 percent of villages and 53 percent of households having access to grid quality electricity.
Vietnam is far away from realizing its short and medium term wind power goals, with no ready solution in sight to several impediments, experts say. They said at a recent conference on wind energy development in Vietnam that high interest rates, low selling prices and inadequate power purchase agreements from the investors’ point of view were major stumbling blocks to realizing set targets.
Coal will be increasingly squeezed out of the power generation market over the next three decades as the cost of renewables plunges and technology improves the flexibility of grids globally. That’s the conclusion of a report by Bloomberg New Energy Finance, which estimated some $11.5 trillion of investment will go into electricity generation between now and 2050.
When the word blockchain is mentioned, thoughts of Bitcoin cryptocurrency naturally arise, but not for energy experts in Southeast Asia who have started to view the technology as an answer to the region’s escalating energy challenges. The ten-member Association of Southeast Asian Nations, or ASEAN region, faces an “energy conundrum,” with hundreds of millions in the block living without grid-quality electricity.
Experts are urging Thai authorities to change their mindset about power development and to be more in step with global trends by prioritising renewable energy. Adopting a new approach would solve current problems, such as the current excessive electricity reserve margin and greenhouse gas emissions from the reliance on fossil-fuel energy and small-scale solutions have been proven to be environmentally less harmful.
Despite tariffs that President Trump imposed on imported panels, the U.S. installed more solar energy than any other source of electricity in the first quarter. Developers installed 2.5 gigawatts of solar in the first quarter, up 13 percent from a year earlier, according to a report.