Thailand’s next phase of growth requires a transition to a low-carbon economy while ensuring energy security, affordability, and sustainability.
Tax and economic incentives for renewable energy and alternative fuel projects were once seen as key to attracting private investors to a country’s green energy plans. Increasingly, these subsidies – which can be revoked by governments as quickly as they were granted – are seen as risky and unpredictable if not rolled out carefully.
On Malalison Island, in the Philippines, people are enjoying 24/7 electricity service through the use of solar hybrid technology, a new kind of battery storage and smart metering.
Pacific countries are finding innovative new ways to finance renewable energy products that are making them more attractive to private investors.
Hydrogen has the potential to be the next breakthrough energy source but key challenges need to be overcome before it can be scaled up to widespread use. Developing countries could be at the forefront of this new “hydrogen economy”
Investment in renewable energy around the world is entering a new phase that will require governments and the private sector to re-think the way they develop projects.
With key reforms, Pacific states could move toward cleaner, more affordable sources of energy that eventually eliminate fossil fuels completely.
Solar power is helping Asia get electricity to people, particularly in rural and remote areas, but it has fallen behind in its use as a clean energy cooking source.
COVID-19 has exposed the vulnerability of energy value chains but solar power could be an indigenous solution to keep the lights on during a crisis.