THANK YOU FOR SUBSCRIBING
Owing to its rapidly increasing population and energy consumption, the APAC region is emerging as a key location for the development of clean technologies.
FREMONT, CA: As one of the world’s fastest-growing regions, APAC’s energy requirement has been rapidly increasing in recent years. Its diverse geographic characteristics and varied institutional capacity make it an ideal market for renewable energies. APAC also is capable of becoming a leader in the global renewable energy market, driving the clean energy transition.
Renewable energy is of significant importance and a part of the United Nations 2030 Agenda for Sustainable Development that advocates reliable, affordable, and sustainable energy for all and urgent actions to combat the climate crisis. Consisting of some of the world’s leading economies, APAC plays a critical role in developing sustainable and low-carbon energy alternatives. The renewable energy sector of the region has gained momentum due to its ever-rising population and power requirements. Several nations in APAC consider renewable energy as a solution to multiple objectives, such as diversification of energy resources, reducing air pollution, affordable energy, and climate crisis mitigation. The region’s renewable energy sector is primarily focused on hydropower, followed by bioenergy. Contemporary technologies such as photovoltaic cells (PVC) and wind energy are also slowly becoming mainstream in APAC, hinting at the region’s rise as the leader in renewable energy.
Electrification in the transport industry is influencing APAC’s objectives regarding its clean energy strategies. Though electromobility is not directly associated with renewable energies, it offers new opportunities to redesign existing traditional energy sources into more innovative and efficient ones. India, Bangladesh, and Japan are at the forefront of development in the renewable energy sector, which is heavily investing in solar energy in particular. Considering the emergence of APAC as the center of technological development in recent years, it is no surprise that the region is actively conducting research and innovation for more efficient and clean energy alternatives. As more and more cities in APAC build their own mandates, the region is expected to witness rapid development and implementation of renewable energy sources