SINGAPORE (Reuters) – Southeast Asia is accelerating plans to harness energy from the sun in coming years as the cost of generating electricity from some solar power projects has become more affordable than gas-fired plants, officials and analysts said.
9. Conclusion Economic and population growth in Southeast Asia has led to higher energy demand. With the limited source of fossil fuel, shifting into renewable energy is highly considered. It will provide clean, affordable, and long-term energy generation.
The estimated LCOE for solar PV generation ranged from S99 to $200 USD/MWh, and the LCOE for wind generation was approximately $150 USD/MWh in 2018 in ASEAN member states (ACE 2019). Barriers based on the wind and solar PV resource data and techno-economic assumptions used in this analysis.
Moreover, it is forecasted that the Southeast Asia region is going to install another 27 GW of PV capacity between 2021 and 2025 . The development and government support toward PV system installation has been summarized the Table 1 below. Fig. 2. ASEAN market cumulative PV system installation in 2022 . Table 1.
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