With a rapidly growing economy, Vietnam is facing an increase in energy demand. According to Electricity of Vietnam, energy demand in the country is forecasted to grow 10% annually. Accounting for a significant chunk of the demand for energy is the demand for electricity. With an increase in energy demand forecasted, it is vital that Vietnam consolidates its energy sectors to generate more power.
At a press event in Berlin, Autarsys announced it will cooperate with Greenvesting and Ecoligo. By securing financing via crowd investment platforms, they intend to roll out PV storage systems in off-grid regions in developing countries. The three companies also launched Germany’s largest crowd investment campaign to fund a solar project in Asia.
Vietnamese activist Khanh Nguy Thi knew early on that depending on coal to meet the country’s growing demand for energy would be a disaster for its people and the environment. She also knew that listening to women in the villages, and involving government officials in the conversation, were key to a greener future for Vietnam.
It’s known as the last piece of the clean energy puzzle. Energy storage is a key component to the decarbonized energy grids of the future, and Singapore is leading Southeast Asia in breaking new ground in the area. The key to overcoming the challenge of intermittency and unlocking the mass deployment and adoption of clean energy is energy storage.
The Federation of Thai Industries has demanded a clear policy framework for purchasing renewable power, stressing that the feed-in tariff rate should stay above 3 baht per kWh, not 2.44 baht as the Energy Ministry requires. The higher rate is justified because green energy production has higher costs than its fossil-fuel counterparts.
Multiple trends are driving the transformation of global energy systems. Technologies are evolving at exponential rates, but policy, planning, and investment decisions continue to evolve in a linear fashion. Disruption is inevitable, but can the transformation be managed?
Despite the popular conception of China’s coal-fueled economy and smog-ridden cities, nowhere else can match the Middle Kingdom for renewable energy potential. China invested more than $44 billion in clean energy projects in 2017, up from $32 billion in 2016, while the Philippines ranks 21st out of 40 countries in the study and Thailand, a Southeast Asian economy striving to prioritise solar power, ranks 30th.
The evolving outlook for project finance, as well as the gradual maturation of technologies, such as blockchain, present new challenges and opportunities for renewables. Uncertainty in the sector continues to drive a relentless focus on cost to soften the impact of protectionism, subsidy cuts and rising interest rates throughout the world.