How much solar & wind energy is in Southeast Asia?
New analysis by the International Energy Agency (IEA) indicates that the share of solar and wind energy in the power generation mix in Southeast Asian countries must reach approximately 23% by 2030 to align with the 2050 Net Zero Emission (NZE) scenario. Combined solar and wind generation in ASEAN grew from 4.2 TWh to 50 TWh between 2015 and 2022.
How much solar power does the ASEAN region have in 2022?
The ASEAN region has 27 GW of solar and 6.8 GW of wind installed capacity in 2022, representing less than 1% of the approximately 30,523 GW of solar and 1,383 GW of wind theoretical potential estimated by the National Renewable Energy Laboratory (NREL).
Does ASEAN need energy storage?
The ASEAN bloc has set the targets of 23% renewable energy in its Total Primary Energy Supply (TPES) and 35% renewable energy in ASEAN installed power capacity by 2025. This means that energy storage is required. Additionally, without BESS acceptance on a larger level, the needed funds won’t materialise, and fewer BESS will be built.
Should ASEAN continue its energy transition?
If ASEAN continues its energy transition at the current pace, it risks missing out on the opportunities provided by the declining costs of wind and solar, now cheaper than fossil fuels. Between 2018 and 2022, 38 GW of renewable energy capacity was added, with about 44% coming from solar capacity growth in Viet Nam.
How much renewable capacity will ASEAN have by 2040?
To meet growing demand, additions in renewable capacity are expected. The ASEAN Plan of Action for Energy Cooperation (APAEC) Targets Scenario projects capacity addition from renewables by 2040 will be 185 GW, with solar contributing to an additional 45 GW, and wind will reach approximately 9 GW capacity.
How much solar & wind will ASEAN have in 2050?
ASEAN countries are seeing increasing solar and wind generation as they shift towards clean power, but to get on track with the IEA’s 2050 net zero scenario, 164 GW of solar and 65 GW of wind need to be installed by 2030.
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