ASEAN nations met the region’s rise in electricity demand through fossil fuels last year, report reveals. The reliance on fossil fuels has increased, with renewables making up only 26% of energy generated, down from 28% in 2022. Carbon emissions grew by 6.6%, with top coal polluters including Vietnam, Malaysia, and the Philippines. Singapore and Thailand mostly emitted from natural gas. Ember warned that the slow energy transition in the region is hindering the benefits of renewables like solar and wind power, now cheaper than fossil fuels.
The International Energy Agency (IEA) also warned that Southeast Asia would need to invest $190bn – five times the current rate – to achieve its climate goals by 2035. Despite clean energy sources projected to meet over one-third of the growth in energy demand, carbon emissions are expected to increase by 35% by 2050. Demand for electricity in the region is set to grow at 4% annually.
Renewables like solar power have potential in the region, but face institutional roadblocks such as storage, grid management, and reliability issues during peak hours. Courtney Weatherby of the Stimson Center’s Southeast Asia programme highlighted the challenges faced by ASEAN countries trying to modernize their energy generation while ensuring stability and reliability of power supply for economic development.
While the potential for renewable energy in ASEAN is promising, institutional barriers and conflicting priorities hinder progress towards a full transition away from fossil fuels. Despite the urgent need to shift towards clean energy, the region continues to rely heavily on fossil fuels, risking increased carbon emissions and hindering climate goals.
Source
Photo credit www.aljazeera.com