Renewables to drive economic growth in Southeast Asia

Published onFebruary 28, 2018

The 10 members of the Association of Southeast Asian Nations (ASEAN) are on track to make solar and other renewables account for 23% of the region’s total primary energy supply (TPES) by 2025, but governments will need to create better policy and investment frameworks to make it happen, according to the International Renewable Energy Agency (IRENA).

Policies now in place throughout the region suggest that the share of renewables in regional TPES will likely jump to just below 17% by 2025, from under 10% in 2014, IRENA says in a new report. “To reach the aspirational target of 23% renewables in the region’s primary energy mix by 2025, Southeast Asian countries will have to substantially scale up their deployment of renewables in the power sector, as well as in heating, cooling and transport,” says Adnan Z. Amin, director general of IRENA.

In the years to come, the rising deployment of solar and other renewable energy technologies will continue to drive economic growth and improve electricity access in Southeast Asia. Annual economic growth in the region is now above 4%, and this will drive up energy demand in the years to come, with renewables poised to fill the gap, IRENA says in Renewable Energy Market Analysis: Southeast Asia. The report — released at the recent United Nations Global SDG7 Conference in Bangkok — looks at utility-scale, rooftop and off-grid applications.

Source: https://www.pv-magazine.com/2018/02/26/renewables-to-drive-economic-growth-in-se-asia-irena/