Key findings of the report “The Asia Pacific renewable supply chain opportunity” by IEEFA are:
- The potential for solar photovoltaic (PV) and offshore wind supply chain investments in Asia Pacific presents a $1.1 trillion opportunity to 2050, of which 75% would be spent on and remain within the countries undertaking these projects.
- Solar PV power projects represent the “here and now” opportunity to capitalise on the supply chain, with US$346 billion of potential localised inputs out of US$395 billion of investment through 2050.
- Offshore wind is a core growth sector in the Asia Pacific, with $425 billion of localization potential on $621 billion of total investment, and shipbuilding opportunities of up to $97 billion to 2050.
- Governments looking to tap into the clean energy supply chain need to look beyond panels and turbines. Balance of systems for solar and offshore wind represent 75% and 68%, respectively, of total spend on projects. That is where the greatest business opportunity is for domestic suppliers, manufacturers, and contractors, starting now and running over the next 25 years.
Access the complete report here
