Solarplaza, a personal company headquartered in Rotterdam, the Netherlands) that goals to encourage, connect and activate the worldwide photovoltaic industry, has prepared a review of the highest 25 solar energy plants in Southeast Asia to showcase the market potential of photovoltaic electricity in a region that’s developing, but with excluding the more advanced and developed solar markets in China, India and Japan.
This list of solar energy plants is being prepared for the two-day Unlocking Solar Capital Asia & Financial Summit to be held in Singapore on November 1 and a couple of, 2018.
In Southeast Asia, most countries are experiencing rapid economic growth, although not without challenges.
The region’s gross domestic product (GDP) reached $2.5 trillion in 2016 and is currently growing at a rate of greater than 4% annually.
Its population of 644 million as of mid-2017 represents 8.5% of the world’s total population and is anticipated to extend to 722 million by 2030 and 789 million by 2050.
Southeast Asia isn’t only considered one of the fastest-growing consumer markets on this planet, but has also change into a significant manufacturing and trading center. A region with a rapidly growing population faces a variety of demographic, social and energy challenges.
Here’s the total list:
Overall, the Southeast Asian region has seen impressive growth in a brief time frame. As for Thailand, the country made our list of top 25 power plants with a capability of 729 MW with 2,697 MW, which implies that the majority of the installed solar capability comes from solar installations with a capability of lower than 8 MW.
Meanwhile, the Philippines was capable of classify 625 MW out of 903 MW, reflecting the next proportion of solar projects above 8 MW in comparison with Thailand.
Malaysia was only 19 MW out of 362 MW in our top 25 rankings. This was the results of the Malaysian government’s plan to limit project capability to 1–30 MW to encourage bidders to bid for large-scale projects.
Finally, Cambodia ended up at 10 MW out of 27 MW, mainly on account of the indisputable fact that the country doesn’t have a feed-in rate system and an absence of tax incentives for solar energy.
The way forward for the region will rely upon several aspects: the decreasing price of photovoltaic modules, the growing demand for solar energy and storage, and future reductions in system balancing costs. As a results of these aspects, several Southeast Asian countries are preparing for increased solar investment, with each country pursuing its own unique path.
It will probably be interesting to see how the region develops in the approaching years, especially with all the massive plans within the pipeline.
Regardless of all of the threats and challenges, one thing is definite. The world will probably be watching closely as considered one of the world’s fastest-growing regions meets its rapidly growing energy needs by switching to renewable energy sources.
Source : Solar Plaza official website
