Long-term renewable energy policies accelerate in Asean as a result of Iran war: report
Six member states have unveiled 37 renewable energy and electrification policies since the outbreak of the war
Since the beginning of the Iran war, long-term renewable energy and electrification policies have been accelerating in the six member states of Southeast Asia, according to a report by Zero Carbon Analytics. Following a spike in energy prices, the region's governments have introduced a total of 37 renewable energy and electrification policies since February 28, compared to 29 fossil fuel policies during the same period.
Among the renewable policies, 24 focused on expanding solar capacity, with several countries adopting measures to lower costs. Indonesia plans to install 100 gigawatts of solar capacity over the next three years, while Singapore aims to increase its solar deployment to 3 gigawatt-peak by 2030. Other countries have raised quotas for residential rooftop solar users to sell power to the grid, and Thailand and Vietnam have increased allowances for solar power exports.
Additionally, seven policies focused on developing energy storage systems to support renewable power. Electric vehicle adoption also gained attention, with six policies targeting the expansion of EVs and charging stations. Fossil fuel policies, introduced after the Iran war outbreak, mainly aimed at securing emergency fuel and managing price increases.
Amid volatile oil markets, Asean governments are increasingly turning to renewables and electrification as long-term solutions for future energy systems.
Written by urgent.news from The Business Times - Companies & Markets's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
