Renewable energy sources are now a commercially profitable business in many parts of Asia Pacific without government largesse and subsidy support. But the renewables story has just started. Primary energy demand in the region is expected to grow by over 40% to 2040, based on the International Energy Agency’s central scenario, accounting for two-thirds of global growth. Renewables will play a major role in meeting the new demand, their expansion supported by rapidly falling costs of key technologies, the drive to reduce air pollution, particularly in China, and the rising popularity of electric vehicles that is pushing forward battery technology. A tipping point now looks close on multiple fronts. Here are six trends that will have a decisive impact on the renewables landscape in the Asia Pacific region. China’s last new coal plant in sight There’s a joke that the Chinese government’s facial recognition technology is so advanced because it has to operate in hostile conditions like the thick smog that regularly envelops Beijing city. Chinese cities have been some of the most polluted in the world on the back of rapid industrialization and coal consumption. The government tried to remedy this with its “war against pollution” that initially covered… continue reading
Continue reading Insight: Balance of power tilts towards renewables in Asia Pacific. This article appeared first on CTRM Center.
Source: CTRM Center