ASEAN Solar Expo
ASEAN Solar Expo is built on this premise, in tandem with the robustly-growing demand for clean and non-fossil fuel based energy. The expo presents a great opportunity for the power generation sector players to get an in-depth understanding of the business potentials in the RE segment.
ASEAN Solar Expo brings together various key solar technology developers and other green energy enthusiasts within a dedicated platform to spur long-term opportunities and to build connections.
Much of the renewable energy (RE) segment’s potential in the Southeast Asian region are yet to be explored. With the region’s energy demand forecast to grow by 80% to almost 1,100 MTOE by 2040, RE will inevitably play a larger role in the region’s energy mix, moving forward. The International Renewable Energy Agency calls Southeast Asia as the potential hotspot for renewable energy, given ASEAN’s plans to generate 23% of its primary energy needs from renewables by 2025
ASEAN Solar Market Outlook
The Renewable Energy (RE) Market in Malaysia is expected to grow to nearly 1 GW by 2015, 2 GW by 2020, 4 GW by 2030 and eventually 21 GW by 2050. Biomass would dominate the total capacity until 2020, accounting to nearly 40% of the additional capacity, as small hydro and solid waste plants reach their maximum capacity. Solar PV will be the dominant source of energy post-2020, taking up 30% of the total capacity by 2030.
*Source: Malaysia Energy, Green Technology & Water Industry Directory
RE is expected to play a larger role in Malaysia with two regulatory frameworks in place: Renewable Energy Act 2011 and Sustainable Energy Development Authority (SEDA) Act 2011.
*Source: Malaysia Energy, Green Technology & Water Industry Directory