The renewable energy transition is coming to Asia

Published onMay 14, 2020

The COVID-19 pandemic has changed the world. It is a truly global threat, ignoring national borders and domestic politics…Despite the current global economic shutdown, the global energy transition is well underway. This transition is being driven by renewable energy technology that disrupts incumbent industry business models, much like the rise of the mobile phone and the internet. The technology disruption is fundamentally reshaping the global energy landscape. A key impetus is the dramatic, ongoing deflation in the cost of solar energy and battery storage. Both have seen costs drop 80 to 90 per cent over the last decade and the Institute for Energy Economics and Financial Analysis (IEEFA) expects both to halve again in the coming decade. Renewables are now a cheap source of energy generation, beating the costs of new imported coal.

Source: https://www.eastasiaforum.org/2020/05/13/the-renewable-energy-transition-is-coming-to-asia/