The region must tackle barriers and focus on collective action to triple renewables by 2030.
The global goal of tripling renewable energy capacity by 2030, set at COP28 in 2023, is both technically achievable and economically viable. However, it demands rapid and coordinated action.
The Renewable Energy Challenge
In 2023, a record 473 GW of renewable power was added globally, marking a 14% growth. Despite this progress, the world needs to add an average of 1,044 GW annually to meet the target of increasing renewable capacity from 3,870 GW to at least 11,000 GW by 2030.
For Southeast Asia, the challenge is particularly pressing. Asean has set an ambitious goal to meet 35% of its electricity needs with renewables by 2025, but the region currently contributes only 105 GW to the global capacity. According to the International Renewable Energy Agency (Irena), Asean could achieve a 47% renewable energy share by 2025, provided key barriers are addressed.
Key Enablers and Barriers
Regional Power Interconnection
The Asean Power Grid, designed to link neighboring countries and enable cross-border renewable power trade, is critical for the region’s decarbonization. A fully integrated regional grid could raise Asean’s total renewable capacity to 3,400 GW by 2050. However, outdated infrastructure and grids unsuitable for variable renewable energy (VRE) present significant obstacles.
Streamlined Policy Frameworks
Regulatory inefficiencies, such as excessive red tape, hinder renewable energy projects. Establishing a centralized authority for permitting and creating regulatory incentives can attract domestic and foreign investment to accelerate infrastructure development.
Workforce Development
Achieving Southeast Asia’s renewable energy ambitions requires a skilled workforce. Training and education programs tailored to green energy technologies are vital to bridging the skills gap.
A Path Forward
Collaborative efforts among Asean nations are essential to overcoming these barriers. By prioritizing regional grid integration, modernizing infrastructure, and fostering a skilled workforce, the region can unlock its renewable energy potential and contribute significantly to the global energy transition.
