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According to a study done by the regional energy sector body, energy demand in Southeast Asia could triple by the year 2050. The region could also become a net importer of natural gases and coal by that time.
According to executive director of ASEAN Centre for Energy, Nuki Agya Utama, diversification of energy sources is crucial for the Association of Southeast Asian Nations (10 ASEAN member nations) to reduce emissions and meet rising energy demand.
He stated that the demand is rising and that stable supply is necessary to ensure stability. This would be a problem if supply depends on only one or two sources.
A recent study by ACE found that the region’s rapid economic growth would result in a rise in total energy consumption to 1.28 billion tonnes of oil equivalent by 2050. This is based on a baseline scenario.
To accelerate the development of renewables and alternative energies in the region, policy intervention is necessary.
Without any policy intervention, the ASEAN’s renewables share would be only 14.4% of total primary energy supply by the year 2025. This is a slight decrease from the 14.2% in 2020, and falls short of the ASEAN target 23%.
To maximize future wind and solar power usage, the region must also build energy storage facilities.