But to seize this opportunity, the region will have to ramp up investments in energy storage systems. The US recently imposed tariffs of as high as 3,500 per cent on solar exports from four South-east Asian markets: Cambodia, Malaysia, Thailand and Vietnam. These countries accounted for nearly 80 per cent of US solar imports.
More energy storage investments are also needed across the rest of South-east Asia. The region is set to account for 25 per cent of global energy demand growth up to 2035, second only to India, according to the IEA. This will be more urgent as solar energy becomes increasingly economical.
Without infrastructure to store the excess energy generated by solar, there could be a need for curtailment of the system, leading to “wasted energy and financial losses”, he added.
ILLUSTRATION: PIXABAY In the face of punishing solar tariffs from the US, South-east Asia has a silver lining: a glut in the supply of photovoltaic panels could make solar projects cheaper and increase adoption. But to seize this opportunity, the region will have to ramp up investments in energy storage systems.
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