September 13, 2020 Read More →

ASEAN anticipates 250% increase in renewable share of power generation

The Energy Mix:

Analysts are predicting a massive renewable energy boom across the Asia Pacific region over the next decade, with the Association of Southeast Asian Nations (ASEAN) anticipating a 250% increase in renewables’ share of power generation between 2014 and 2025 and Wood Mackenzie forecasting more than 170 gigawatts of new renewables capacity each year through 2030.

Latest data in April had global renewables capacity increasing by 179 GW in 2019 and 176 GW in 2018. 

But now, WoodMac “believes the region’s power generation sector could attract investments worth US$1.5 trillion through to 2030,” with two-thirds of the total going to renewables, Windpower Monthly reports, in one of a series of posts republished by the Institute for Energy Economics and Financial Analysis (IEEFA). “While Wood Mackenzie believe wind and solar [photovoltaics] will be cost-competitive with coal by 2030, this is already the case in many other markets.” 

[Staff Report]

More: Analysts Foresee Big Boom In Asia’s Renewable Energy Generating Capacity

Posted in: IEEFA In the News

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