Category: Mega Trends & Analysis Asia

Grid Enhancement: The Philippines’ focus on transmission and RES interconnection

Grid Enhancement: The Philippines’ focus on transmission and RES interconnection

August 25, 2024 | , ,

The Philippines aims to significantly shift its energy mix towards RES, which will dominate the installed capacity, supported by natural gas and BESS. Coal will see no additional capacity beyond the 2,305 MW planned from 2023 to 2028, natural gas capacity will substantially increase and oil capacity will remain largely unchanged. RES will see the most growth, with an addition of 13,791 MW by 2028 and an additional 84,712 MW by 2050.

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South Korea’s renewables deployment lags behind other nations: IEEFA

South Korea’s renewables deployment lags behind other nations: IEEFA

August 19, 2024 | , ,

South Korea’s renewable electricity — which includes wind, solar, conventional hydropower, and other sources— accounted for a mere 9.64% of the power generation mix in 2023, falling far short of the world (30.25%) and Asia (26.73%) averages. Meanwhile, the share of wind and solar generation was just 5.3% in 2023. Even with the inclusion of nuclear power generation, South Korea’s share of clean electricity (40.32%) falls short of the OECD average (49.96%).

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A Balanced Transition: Indonesia’s plans for a green energy future 

A Balanced Transition: Indonesia’s plans for a green energy future 

July 21, 2024 | ,

Indonesia, the world’s fourth-largest producer of coal and Southeast Asia’s largest gas supplier, has a strong connection to fossil fuels. However, the country’s population is increasingly supportive of climate goals, and the challenge for Indonesian policymakers lies in balancing the need for economic development, energy security, increased access to energy and affordability with the growing demand for a shift towards renewable energy sources (RES). The country’s reliance on fossil fuels and its abundant coal resources could prolong the use of existing infrastructure, complicating the energy transition.

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Offshore Wind Development in Vietnam and Philippines

Offshore Wind Development in Vietnam and Philippines

June 24, 2024 | , ,

Vietnam is a new offshore wind (OFW) market that has world-class wind resources, a long coastline, and strong fundamentals for growth which could make offshore wind a significant component of its future energy mix. The national Power Development Plan 8 (PDP8) targets 6 GW of offshore wind installations, projected to contribute approximately 4% to the total installed capacity. Philippines has emerged as a pivotal player in the offshore wind (OFW) industry, propelled by progressive policies streamlining permits, encouraging foreign participation, and the introduction of a marine spatial tool (MSP). The Philippine Energy Plan (PEP) aims for a 35% share of renewables in the power mix by 2030 and 50% by 2040. 

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A Win-Win Opportunity: Utilising China’s Spare Solar Capacity

A Win-Win Opportunity: Utilising China’s Spare Solar Capacity

June 17, 2024 | , ,

The manufacturing capacity of factories worldwide tripled from 2021 to 2023, and is set to reach 1,100 GW per year by the end of 2024. About 80-85% of manufacturing capacity is based in China, which is also the clear market leader in upstream parts of the supply chain. However, forecasts for deployment this decade suggest that more than half of this manufacturing capacity will lie unused, with neither government targets nor project pipelines running at a commensurate scale.

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Shifting Gears: Overview of EV market in South Asia

Shifting Gears: Overview of EV market in South Asia

June 10, 2024 | , ,

The EV market in South Asia is poised for substantial growth, driven by environmental imperatives, economic factors, and proactive government policies. Each country in the region presents unique opportunities and challenges, reflecting their specific economic conditions, infrastructure development, and market dynamics. Despite the challenges of infrastructure development, high initial costs, and the need for consumer education, the potential for growth in the EV market across South Asia is immense. With continued investment, supportive policies, and technological advancements, the region is well on its way to a sustainable and electric future.

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Renewables to keep rising and coal to peak by 2030 in China: CEF

Renewables to keep rising and coal to peak by 2030 in China: CEF

May 6, 2024 | , , ,

China will peak coal-use in 2023. CEF forecasts that China can peak then plateau in coal use over the six years to 2030, followed by a slow continued decline of 2% p.a. in coal use in absolute terms in China from 2030-2040, giving a 20% decline over the next decade. China’s electricity market is at the forefront of a transformative journey from traditional thermal power generation to robust expansion of renewable energy installations. China’s shift towards greener energy sources holds immense significance not only domestically but also in the global energy transition landscape.

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China could surpass a 50% EV sales share by 2025: IEA

China could surpass a 50% EV sales share by 2025: IEA

April 29, 2024 | , ,

China is also the global leader in terms of electric share of the 2/3W fleet, with over one-third of all 2/3Ws being electric today, and is expected to remain the leader in electric 2/3W sales in both the STEPS and APS. In the STEPS, the sales share of electric 2/3Ws reaches nearly 90% in 2035; in the APS, the share is slightly above that by 2035. In China there is no gap between existing policy frameworks and future targets, and even more ambition is conceivable.

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US Solar Market Remains Heavily Reliant on Imported Goods

US Solar Market Remains Heavily Reliant on Imported Goods

April 8, 2024 | , ,

The US currently has the makings of a strong solar manufacturing supply chain, but increased support is critical to regain solar manufacturing competitiveness. Filling these support gaps is possible, and in doing so, the US can improve its energy security and market leadership as the world increasingly looks to solar PV technology to generate low cost electricity in the face of the continuing climate crisis. Strong, consistent, and unwavering policy support for domestic solar manufacturing can lay the foundation to make the US, the nation that invented solar modules, a leader in modern solar energy manufacturing.

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South Korea’s transition away from fossil fuels is delayed

South Korea’s transition away from fossil fuels is delayed

April 1, 2024 | , ,

South Korea’s energy security policies and business strategies have been misconstrued to focus on securing fossil fuels for power supply stability and affordability.  South Korea’s transition away from fossil fuels has been slow, despite ambitious targets set in its Nationally Determined Contribution (NDC) to reduce fossil fuel use in the power sector to 23.7% and increase renewable energy to 30.6% by 2036. In 2023, fossil fuels still accounted for 58.5% of the power mix, while renewable energy contributed only 9.64%.

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Renewables Development Plan of Indonesia, Malaysia, Philippines, Thailand and Vietnam

Renewables Development Plan of Indonesia, Malaysia, Philippines, Thailand and Vietnam

February 5, 2024 | ,

To address the challenge of emissions reduction, Indonesia is actively deliberating a forthcoming power development plan. Malaysia has initiated its first Voluntary Carbon Market (VCM). Renewable energy (including hydro power generation) holds a 22% share in the Philippines. The Thai government targets 30% of its EV production by 2025 to counter declining fossil fuel excise tax revenues. Vietnam’s eagerly anticipated Power Development Plan VIII (PDP8) is finally approved.

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ASEAN’s target of 35% of operating renewables capacity by 2025 is easily attainable: Global Energy Monitor

ASEAN’s target of 35% of operating renewables capacity by 2025 is easily attainable: Global Energy Monitor

January 22, 2024 | , , ,

ASEAN member states have set a collective renewable energy capacity target of 35% by 2025. Including all types of renewable power, the region is already close to meeting its goal by currently having 32% of its total capacity sourced from renewables. The region currently has 28 GW of large utility-scale solar and wind power in operation, accounting for 9% of total electrical capacity in the region. ASEAN would have to build 17 GW of utility-scale wind and solar capacity by 2025 to reach this goal.

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Tripling Renewables by 2030 in Asia

Tripling Renewables by 2030 in Asia

December 11, 2023 | , , ,

World leaders have been building momentum to triple global installed renewable energy capacity by 2030, from a 2022 baseline. The proposed pledge puts renewable energy at the forefront of upcoming negotiations and aligns with BloombergNEF’s own analysis on a net-zero pathway. Achieving it will require global commitments to remove bottlenecks, particularly those affecting wind and power grids, that differ by country. 

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Paving the way for renewable energy transformation in Japan

Paving the way for renewable energy transformation in Japan

December 4, 2023 | ,

Japan’s electricity sector is undergoing a significant transformation, primarily driven by the imperative to enhance interregional connections. The goal is to meet Japan’s carbon neutrality targets by 2050 under its Green Growth Strategy through the Achieving Carbon Neutrality initiative, which necessitates decarbonising the power generation base and increasing the share of renewable energy sources (RES) in the nation’s generation mix.

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Renewable energy sector takes centre stage in India

Renewable energy sector takes centre stage in India

November 19, 2023 | , , , , ,

Renewable energy sources have been increasingly adopted for buil­ding a sustainable future in India’s energy landscape. This transformation took time to develop; it is the product of coordinated efforts by the government, business and scholars, besides regional and global co­operation. The country has taken significant strides in renewable energy development, especially over the past few years. India currently has 132 GW of installed renewable energy capa­city, which is about 31 per cent of the co­untry’s total power ca­pacity as of October 2023.

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Decarbonising Transport: Overview of Sri Lanka’s EV market

Decarbonising Transport: Overview of Sri Lanka’s EV market

August 26, 2023 | , ,

Sri Lanka has traditionally relied heavily on fossil fuels such as oil, natural gas, and coal to fulfil the majority of its energy and transportation needs. The transport sector in Sri Lanka, like in any other country, holds a significant position in the nation’s progress and advancement. Sri Lanka is taking initiatives in the field of EVs which are multi-faceted and forward-looking.

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Embracing Renewables: Overview of the clean energy sector in Maldives

Embracing Renewables: Overview of the clean energy sector in Maldives

August 21, 2023 | , ,

Maldives is geographically blessed with abundance of renewable energy resources, including solar, wind, and ocean, as well as an ability to manufacture green hydrogen fuel. The country can also replace a portion of its diesel consumption with cheaper, more efficient and less polluting small-scale liquefied natural gas. As per IRENA’s Renewable Capacity Statistics 2023 report, total renewable energy capacity installed in Maldives as of 2022 was 37 MW.

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Optimal Energy Mix: Pakistan targets raising the share of renewables

Optimal Energy Mix: Pakistan targets raising the share of renewables

July 7, 2022 | , ,

Pakistan’s power supply had been unreliable for many years in the past. To address this problem, huge investments were made in the recent past for increasing the power generation capacity in Pakistan. Source-wise, the largest share of around 25,098 MW comes from thermal, while the second largest share of 9,915 MW comes from hydro. Renewables account for around 5 per cent of the capacity, with 1,248 MW of wind, 530 MW of solar, 369 MW of bagasse.

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A clean start: South Korea embraces its hydrogen future

A clean start: South Korea embraces its hydrogen future

June 30, 2022 | , ,

The private sector has played an important role in facilitating investment into the budding industry – last year, five South Korean conglomerates jointly announced plans to invest over $US38 billion into the hydrogen economy by 2030 and that is set to continue, not just in terms of financing, but through the provision of critical knowhow and technical guidance.

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Strong Winds: Deciphering China’s booming wind industry

Strong Winds: Deciphering China’s booming wind industry

June 18, 2022 | , ,

China’s wind market has witnessed a greater policy push in the recent times, encouraging greater innovation and investment in the sector. Certain advantages with regards to manufacturing of wind turbines have also contributed to China’s leading position in the segment. Given adequate policy and regulatory support, repowering activities can play a significant role in China’s wind market. Given the current trajectory, the country is likely to continue dominating the global wind energy market.

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