Asia is set to play a huge role in the green energy revolution over the next decade, according to analysts.
The news comes as the production and usage of energy are increasingly becoming a sensitive topic across the globe.
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Russia’s unlawful invasion of Ukraine has caused an energy crisis in Europe as Vladimir Putin’s regime has used its vast natural resources to put pressure on Europe.
Elsewhere, bitcoin miners continue to slog it out about whether the production of the cryptocurrency is bad for the environment or just has negligible effect on global warming.
At the same time, the transition from fossil fuel to sustainable energy is at the centre of government policies across the planet
These conversations are only set to grow louder as the consumption and generation of energy are expected to increase over the next decade.
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By GlobalData“World-wide energy generation will reach around 35 petawatt hours by 2030 up from 27 petawatt hours today,” Robert Penman, thematic analyst at GlobalData, said in a new podcast from the research firm. “And of that, 49% will be generated by renewables and low-carbon fuels.”
He also predicted that the Asia-Pacific region’s energy generation is set to rise at a rate of 3.9% every year until 2030.
“That’s compared to 1.8% in Europe and 1.4% in North America,” Penman said. “This is important because traditionally, growth has been reliant on increasing fossil fuel use, which, unfortunately, is at odds with the need to decarbonise and limit the effects of climate change.”
Penman said that Asia has some “incredible potential” for green energy development, despite only “about 43% of its energy” being expected to be generated from renewables by 2030. That’s compared to 67% in Europe.
Penman also predicted that China will lead the pack when it comes to green energy, much like Beijing is arguably doing when it comes to technology.
“I’d say China is a key driver of renewable developments in APAC as it has invested heavily in solar and wind,” he said.
“Australia is also important due to its access to key raw materials and its enormous solar power potential.”
