Southeast asia s energy storage needs

Is Southeast Asia a good place to invest in energy storage?

Image: ACEN. There has been an uptick in energy storage investment in Southeast Asia, a region still largely powered by coal and experiencing high growth in population and energy demand. Andy Colthorpe speaks with companies working to establish a framework of opportunities in the region.

What are the key areas of energy development in Southeast Asia?

The third chapter analyses four key areas in depth: investment for the clean energy transition, power sector decarbonisation focusing on system flexibility, low-carbon fuels, and the supply and demand of critical minerals. Southeast Asia Energy Outlook 2022 - Analysis and key findings. A report by the International Energy Agency.

Will Southeast Asia's electricity demand rise in 2035?

Southeast Asia’s electricity demand is set to rise 4% annually to 2035 in the STEPS, outpacing the 3% growth in overall energy demand. From over 1 300 TWh today, electricity demand rises above 2 000 TWh by 2035 in the STEPS, more than double Japan’s current electricity demand and 15% higher than in the last edition of this Outlook.

How can International Development Support Southeast Asia's energy transitions?

International development finance and support is crucial to Southeast Asia’s energy transitions. The Just Energy Transition Partnerships (JETPs) launched in 2021 in Indonesia and Viet Nam provide a framework to mobilise capital for investments in clean energy and support the phasing out of coal-fired power generation.

Could a gas expansion be a viable option for Southeast Asia?

The remaining demand could be met by the proposed gas expansion; however, there would be significant costs to doing so. The LCOE for solar PV and onshore wind in Southeast Asian countries is becoming increasingly competitive compared to gas.

What affects Southeast Asia's Energy Prospects?

Since the last edition of this report, the energy prospects for Southeast Asia have been affected by the Covid-19 pandemic, new energy and climate policy commitments and, most recently, high and volatile prices exacerbated by the Russian Federation’s (hereafter, “Russia”) invasion of Ukraine.