• About
    • Which Energy Mix is this?
  • Climate News Network Archive
  • Contact
Celebrating our 1,000th edition. The climate news you need
No Result
View All Result
The Energy Mix
  • Canada
  • UK & Europe
  • Fossil Fuels
  • Ending Emissions
  • Community Climate Finance
  • Clean Electricity Grid
  • Cities & Communities
SUBSCRIBE
DONATE
  • Canada
  • UK & Europe
  • Fossil Fuels
  • Ending Emissions
  • Community Climate Finance
  • Clean Electricity Grid
  • Cities & Communities
SUBSCRIBE
DONATE
No Result
View All Result
The Energy Mix
No Result
View All Result
  FEATURED
BREAKING: UN Nature Summit, the ‘Paris Conference for Biodiversity’, Moves to Montreal in December June 19, 2022
‘LET’S SUE BIG OIL’: Legal Team Launches Class Action Campaign for B.C. Municipalities June 17, 2022
‘It Could Have Been Any of Us’, Colleague Says, After Brazil Confirms Murders of Bruno Pereira, Dom Phillips June 17, 2022
Infrastructure Gap a ‘Life and Death’ Matter as Northern Canada Warms June 17, 2022
Ban Fossil Fuel Ads Like Tobacco Promos, Doctors Urge Ottawa June 10, 2022
Next
Prev
Home Jurisdictions Asia

Analysts Predict Solar, Offshore Wind Boom for Asia-Pacific

October 28, 2018
Reading time: 2 minutes

Kim Hansen/Wikimedia Commons

Kim Hansen/Wikimedia Commons

4
SHARES
 

The next decade will see 355 gigawatts (355 billion watts) of new photovoltaic solar installations across the Asia-Pacific region by 2023 and a 20-fold increase in offshore wind capacity by 2027, according to a new report by analysts at Wood Mackenzie.

That’s in spite of an expected decline in the region’s solar installations this year, CleanTechnica reports.

“Traditionally the leader of the pack in the Asia-Pacific, China’s solar installations are expected to fall 30% this year, as it is adopting various policy instruments which will reduce subsidies,” said WoodMac solar analyst Rishab Shrestha. But even so, “the larger of the two sectors will be the solar PV market which, despite falling somewhat this year, is nevertheless set to remain relatively steady over the next five years through to 2023,” CleanTechnica notes.

After meeting its 2020 solar capacity target of 105 GW in 2017, China announced it was capping new projects, phasing out renewable energy subsidies, and replacing them with technology and policy supports that would enable solar and wind to compete against non-renewables at “grid price parity”. Japan is going through a similar transition, replacing its feed-in tariff program with competitive auctions for two-megawatt projects and larger.

“The key trend we are seeing is the phaseout of subsidies and transition towards auctions, which is leading to lumpy demand in the region,” Shrestha said. But the torrid pace of solar installations will continue, “partly attributable to the reduction in PV capital cost globally.”

WoodMac sees the Asia-Pacific’s offshore wind capacity growing to 43 GW by 2027, with China accounting for 31 GW and Taiwan installing another 8.7. “Taiwan presents the biggest offshore market in APEC due to a relatively stable regulatory regime, a supportive government, and openness to foreign investment,” said WoodMac senior analyst Robert Liew.

More broadly, the analysis points to stable supply chains and strong government support as necessary conditions for the region to expand its renewable energy footprint. Liew said South Korea, Japan, and East Asia will need combined investment of about US$37 billion over the next five years to meet their offshore wind targets.

“The good news is that prices are coming down. Future offshore wind prices are projected to be competitive with traditional thermal prices by 2025,” he said. “This should attract investments in offshore wind, though Asia-Pacific is still playing catch-up with Europe” in setting up a “dedicated infrastructure to support large-scale offshore growth”.



in Asia, China, Clean Electricity Grid, Community Climate Finance, Ending Emissions, Energy / Carbon Pricing & Economics, Solar, Supply Chains & Consumption, Wind

The latest climate news and analysis, direct to your inbox

Subscribe

Related Posts

Ben_Kerckx/Pixabay
Petrochemicals & Plastics

Plastics Cited as ‘Fossil Industry’s Plan B’ as Guilbeault Announces Partial Ban

June 24, 2022
197
TAFE SA TONSLEY/Flickr
International Agencies & Studies

Clean Energy Investment to Exceed $1.4T This Year, Still Falls Short of Climate Goals: IEA

June 24, 2022
95
zephylwer0/pixabay
Supply Chains & Consumption

North American Steel, Aluminium Giants Lumber Toward Green Transition

June 24, 2022
170

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

Trending Stories

The federal government's Cliff Street Power Plant is at the centre of Ottawa's plans to reduce natural gas demand. Photo: PWGSC

EXCLUSIVE: Ontario Regulator Refuses New Pipeline, Tells Enbridge to Plan for Lower Gas Demand

May 30, 2022
5.1k
Ben_Kerckx/Pixabay

Plastics Cited as ‘Fossil Industry’s Plan B’ as Guilbeault Announces Partial Ban

June 24, 2022
197
zephylwer0/pixabay

North American Steel, Aluminium Giants Lumber Toward Green Transition

June 24, 2022
170
Jason Woodhead/Flickr

Trans Mountain Pipeline On Track to Lose $600 Million, Parliamentary Budget Officer Finds

June 24, 2022
314
Bruce Reeve/Flickr

Opinion: Ontario’s New ‘Carbon Tax’ Looks Like the One Doug Ford Fought

June 7, 2022
1.6k
Michael and Diane Weidner/Unsplash

Scientists, Politicians Debate Ethics of ‘Climate Tinkering’

June 7, 2022
74

Recent Posts

Erik Whalen/wikimedia commons

Yellowstone Park Reopens, But Flood Recovery Could Take Years, Cost Billions

June 24, 2022
73
TAFE SA TONSLEY/Flickr

Clean Energy Investment to Exceed $1.4T This Year, Still Falls Short of Climate Goals: IEA

June 24, 2022
95
Nemaska Lithium/Facebook

Critical Minerals, Hydrogen Lead Ottawa’s Low-Carbon Industry Strategy

June 24, 2022
79
Cjp24/Wikimedia Commons

UK Green Shift Won’t Repeat Job Destruction of Deindustrialization, Report Finds

June 24, 2022
37
/PxFul

Canadian Farmers Offer Ottawa a Roadmap to Cut Agriculture Emissions

June 24, 2022
95
Pavlofox/Pixabay

Millions Face Famine as Climate Disasters, Ukraine War Slash Food Supplies

June 24, 2022
51
Next Post
Matthew Field, http://www.photography.mattfield.com via Wikimedia Commons

‘Rewilding’ Ecosystems Could Cut Methane Emissions, Boost Forest Carbon Storage

The Energy Mix

Copyright 2022 © Smarter Shift Inc. and Energy Mix Productions Inc. All rights reserved.

Navigate Site

  • About
  • Contact
  • Privacy Policy and Copyright
  • Cookie Policy

Follow Us

No Result
View All Result
  • Canada
  • UK & Europe
  • Fossil Fuels
  • Ending Emissions
  • Community Climate Finance
  • Clean Electricity Grid
  • Cities & Communities

Copyright 2022 © Smarter Shift Inc. and Energy Mix Productions Inc. All rights reserved.

Manage Cookie Consent
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behaviour or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
Manage options Manage services Manage vendors Read more about these purposes
View preferences
{title} {title} {title}