The government now wants every electric vehicle sold in Thailand to have been produced locally by 2035, five years earlier than its original plan, as it burnishes its clean green credentials. The National New Generation Vehicle Committee chaired by Deputy Prime Minister and Minister of Energy, Supattanapong Punmeechaow on Wednesday approved the private sector's request to hasten the country's electric vehicle production.
As the world’s fifth-largest economy with a gross domestic product of US$3 trillion, Asean currently stands at a crossroads in terms of its energy future. Prior to the Covid-19 pandemic, the region forecasted a 50 per cent rise in energy demand compared to a decade earlier due to its fast-expanding economies and population growth. Now, as the region emerges from the pandemic – affordable, secure and environmentally sustainable energy underpins its recovery.
The Green Climate Fund (GCF) has granted $300 million to the Asian Development Bank (ADB) to assist in creating environmentally friendly infrastructure projects that aim to help economies in the region recover sustainably and create jobs. The ADB said the funds will be utilised by the ASEAN Catalytic Green Finance Facility’s (ACGF) Green Recovery Programme to support green infrastructure projects in ASEAN member nations...
In far-flung corners of the federal government, staffers have been busy calculating how quickly the United States could embrace electric cars or phase out the last of the nation’s coal-fired power plants. They are estimating how fast the country can construct new battery-charging stations and wind turbines, as well as how farmers can store more carbon in the soil — and how much Congress might allocate to fund such efforts.
Seven key areas have been identified as vital for a sustainable energy future in the Asia Pacific. The areas and key trends have been identified by regional and global business leaders, policymakers, and government representatives who attended Siemens Energy’s Asia Pacific Energy Week...The seven key areas vital to accelerate the region’s energy transition include: 1. Access to reliable, affordable, and sustainable energy supply is a necessity for economic growth...
Until recently, the adoption of battery power storage solutions in the U.S. had fallen short of expectations. Yet, declining costs and advancing technology suggests that battery storage is ready to play a larger role in the U.S. power sector. This potential is now attracting significant investor interest, and from 2024 onward, S&P Global Ratings expects total capital investment in North American battery storage to exceed $3 billion annually.
Nearly $4.4 trillion (£3.1tn) a year is needed to be invested in energy transition if the world is to reverse the serious impacts of climate change. The staggering finding comes from the report published today by the International Renewable Energy Agency (IRENA), which suggests expenditure on clean energy will have to increase by 30% to a total of $131 trillion (£94.6tn) between now and 2050.
The global battery energy storage is expected to reach $11.04bn in 2025, with the market increasing by close to $5bn, over the forecast period up to 2025. Global power sector transformation amid concerns over climate change, the volatility of fuel import prices, increased competition, declining costs, and suitable policy instruments have supported the proliferation of renewable energy across the world.