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Spirethoughts

Spire's six most recent Spirethoughts.

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Asia emerging as largest energy market

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The clean-energy industry is slowly moving away from Europe, and is steering towards the “more developed” emerging nations. Industry players are on a lookout for new markets to increase power demands and tap on expanding economies. Plans underway are focused to build on wind, solar and hydropower.

While Asia’s biggest emerging nations for clean energy are China and India, others such as South Korea and Thailand are attracting increasingly more investments. China is the largest renewables market in Asia with USD67 billion of investments, while India, Thailand and Korea account for USD7 billion, USD1.3 billion and USD900 million worth of investments respectively.

The major contributors to the renewable energy market from Asia-Pacific include India, Japan, Australia, Thailand, the Philippines and Indonesia. The combined renewable installed capacity for all these nations is expected to increase at a Compound Annual Growth Rate (CAGR) of 12.2 percent.

Do you think the world will be dependent on Asia for its energy future?

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