Earlier in July 2014, Bloomberg predicted that Asia-Pacific will spend around $2.5 trillion on renewable energy and will install around 2.5 TW of new generating capacity of which, 1.7 TW would be renewable sources of power.
According to Justin Wu from Bloomberg New Energy Finance, “The Asia-Pacific region is the largest region for new energy build in the world,” he said. “It’s larger than the Americas and Europe combined from now until 2030.”
Similarly, the Economist Intelligence Unit's Chief Economist, Simon Baptist, recently sent out a note claiming that, "The ten member states of the Association of South-East Asian Nations (ASEAN), dominated by Indonesia, have over 600m people and by 2018 we think their economies will be growing as fast as China's and will be as big as Germany's." (July 31 2014).
The Economist Intelligence Unit report, Business Environment Rankings 2014 had the following to say about the region. Singapore ranked number one, as the world's most investor-friendly location, maintaining its spot for the last 5 years. Out of 74, rankings some of the other ASEAN nations were:
- Thailand: 38
- Vietnam: 60
- Philippines: 51
- Malaysia: 24
- Indonesia: 58
Against the backdrop of growth, growing energy needs, climate change and extreme weather mitigation, Solar Energy Southeast Asia will explore the roof-top and ground-mounted solar potential in South East Asia.
The conference will attract:
- Major developers active in South East Asia
- Commercial financiers active in South East Asian solar
- Development banks with funds available for South East Asian Solar
- Key solar panel manufacturers
- Companies with innovative inverters
- Micro-grid experts able to work on Island solar projects
- Companies with storage technologies that can be matched to solar projects
- Government and policy-makers active in South East Asia to expand upon the policies driving the market