Category: Mega Trends & Analysis Asia

Solar Module Pricing To Ease With Rising Global Polysilicon Production Capacity

Solar Module Pricing To Ease With Rising Global Polysilicon Production Capacity

June 15, 2022 | , ,

Strong solar module demand will continue to prop up component prices and place upward pressure on solar capital costs through the near term. Upstream polysilicon production will fail to meet strong demand over the near term, pushing up the price of modules and inflating solar CapEx over 2022. However, new production capacity additions across the solar module value chain will boost supply in the market, stabilising prices before returning CapEx to a downward trend in 2023.

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Green Potential: Market overview and opportunities for South Asia

Green Potential: Market overview and opportunities for South Asia

June 12, 2022 | , , , ,

Governments in South Asia have been committing more towards renewable energy in their national policy targets, but further efforts are required to develop the enabling policies, institutions and market to attract more investments. Covid-19 stimulus packages for the energy sector should not only be centred around clean energy but also be accompanied by market mechanisms that would incentivise investors and unpack the technological potential of integrating more renewable energy into the grid.

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Streamlined policies required for continued solar power growth in Vietnam and Taiwan

Streamlined policies required for continued solar power growth in Vietnam and Taiwan

June 8, 2022 | , ,

Following a spectacular 2020, resulting in 11.9 GW of added solar capacity and catapulting the country into the top 3 solar markets globally, the PV sector in Vietnam saw a dramatic collapse in 2021. Taiwan reached the GW level for the first time in 2019, adding 1.41 GW, which is equal to an annual growth of 45% and results in a total cumulative capacity above 4 GW. On the cumulative side, Taiwan had 7.7 GW of solar PV installation at the end of 2021, 12% short of its target.

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Road to Renewables: Maldives transitions to a greener power sector

Road to Renewables: Maldives transitions to a greener power sector

June 6, 2022 | , ,

Renewable energy accounts for only 4 per cent of the total energy portfolio of the Maldives. However, due to the abundance of renewable energy sources such as solar, wind and ocean, there is immense potential for further developing renewable energy in the country. As per the Asian Development Bank (ADB), solar radiation in the Maldives is roughly 1,200 kWh per square metre per annum. Several solar projects in the country are now under way.

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Robust Pumped Storage Growth To Reinforce Mainland China’s Renewables Growth

Robust Pumped Storage Growth To Reinforce Mainland China’s Renewables Growth

May 29, 2022 | , ,

We have recently revised up our hydro-electric pumped storage generation and capacity forecasts for Mainland China, following positive developments in the sector. Mainland China is the top-performing market in Asia for pumped storage, with a total of 36.4GW of capacity as of end-2021. Over the coming years, we expect Mainland China’s hydro-electric pumped storage capacity to expand rapidly. In September 2021, the National Energy Administration (NEA) announced that it aims for hydro-electric pumped storage capacity to reach 62.0GW in 2025 and 120.0GW in 2030. 

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Mapping the Growth: Potential and Market Expansion of Electric Buses in ASEAN

Mapping the Growth: Potential and Market Expansion of Electric Buses in ASEAN

May 25, 2022 | , ,

The growing need to reduce reliance on conventional energy sources, mitigate GHG emissions and control pollution levels are the primary drivers of the Southeast Asian electric bus market. Growing public awareness of the nexus between climate change, pollution and personal consumption has resulted in a surge in demand for green transportation solutions, including electrified public transportation such as e-buses.

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Afghanistan’s Power Sector Update: Outlook remains uncertain

Afghanistan’s Power Sector Update: Outlook remains uncertain

May 22, 2022 | ,

The total power generation capacity in Afghanistan stood at 641 MW in 2020 as per the latest available statistics from the International Renewable Energy Agency (IRENA). About 52 per cent of the capacity (333 MW) was accounted for by hydro, 43 per cent (277 MW) by thermal and the remaining 5 per cent (31 MW) by solar. Generation capacity addition has been paltry over the years with the installed capacity recording a compound annual growth rate (CAGR) of 2.8 per cent between 2006 and 2020.

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China remains the global wind powerhouse

China remains the global wind powerhouse

May 11, 2022 | , ,

China’s transition to a subsidy-free market in 2021 resulted in 34% less capacity installed in the country YoY (-24 GW), which heavily impacted the global total. However, the nearly 48 GW installed in China in 2021 indicates that strong market fundamentals remain despite the shift in policy. If we exclude China, the rest of the world added more than 47 GW of new capacity, a 14% increase YoY, driven primarily by significant growth in Asia Pacific (+134%), Northern Europe (+100%), and Latin America (+82%).

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Easing Of Solar Equipment Imports Restriction To Alleviate Risks To India’s Solar Growth

Easing Of Solar Equipment Imports Restriction To Alleviate Risks To India’s Solar Growth

May 8, 2022 | , ,

In the short term, we expect downside risks to India’s solar capacity growth to alleviate as the government of India postpones restrictions on imported solar equipment use by six months. We maintain our solar capacity forecasts as India implements basic custom duties on imported solar modules and cells, increasing the costs of solar projects and curbing stronger growth, given that domestic manufacturing is still unable to replace import quantities.

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South Korea’s lack of wind and solar hinders exporters

South Korea’s lack of wind and solar hinders exporters

April 28, 2022 | , , ,

South Korea’s wind and solar output far below corporate needs. South Korea’s top 11 exporters consume 4.5 times more electricity than generated by wind and solar in 2020. South Korea’s biggest companies could lose a key competitive edge over the next decade, as they struggle to secure critical supplies of domestic renewable energy, without a significant boost from the incoming Yoon administration. 

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A gust of growth in China makes 2020 a record year for wind energy

A gust of growth in China makes 2020 a record year for wind energy

January 22, 2021 | , ,

The surge in installations exceeds GWEC’s Q3 2020 forecast for China by 11 GW and makes 2020 a record year of wind growth with an estimated 82.3 GW of new wind power capacity globally, according to initial calculations by GWEC, which represents a 36% year-on-year increase in installations. According to GWEC Market Intelligence, the global wind industry is now on-track to go from strength to strength and we expect to see similar installation levels in 2021.

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Japan’s renewable energy auctions are price-centred: IRENA

Japan’s renewable energy auctions are price-centred: IRENA

January 13, 2021 | ,

Japan is a country which relies mainly on fossil fuels to meet its energy needs. However, the events at the nuclear power plant in Fukushima following the 2011 earthquake and tsunami have shifted energy policies towards greater renewables adoption. While a FiT scheme was launched earlier, this gave way to auctions in 2017, which have since the key policy instrument driving the Japan’s transition to renewables.

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