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The paradox of Asia's energy transition
A UN report reveals that renewable energy capacity in the region tripled between 2013 and 2023, led by China, India, Vietnam, and Laos. But as an overall percentage, this share is stagnant at 16 per cent, held back by rising consumption, biomass decline, and continuous dependence on fossil fuels.
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Bangkok (AsiaNews) – A recent report by the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) reveals that the Asia-Pacific region has become the global engine of renewable energy growth. Yet, despite this remarkable progress, the region's energy transition faces a "structural paradox" that is slowing its overall impact.
In the decade between 2013 and 2023, installed renewable electricity capacity in the region nearly tripled, from 568 gigawatts to 1,785 gigawatts. China, in particular, surpassed its 2030 targets, reaching 1,408 gigawatts of solar and wind capacity by the end of 2024.
Other countries, such as India, Vietnam, and Laos, are also making significant strides, with India aiming for 500 gigawatts of fossil-free capacity by 2030, Vietnam seeing a surge in its solar capacity, and Laos, along with Bhutan and Nepal, largely exporting hydropower in the region.
Despite the enormous increase in capacity, the share of renewables in the region's total energy supply has increased only marginally, reaching 16.3 per cent in 2022. For the ESCAP report, this stems from two distinct trends: higher energy demand and the decline of traditional biomass.
Rapid economic and population growth in the region has led to an explosion in energy consumption, especially in the industrial and transport sectors, outpacing the expansion of renewables, while the share of fossil fuels remained high.
In many developing countries, the use of traditional biomass for heating and cooking is declining in favour of more modern sources, reducing the overall contribution of renewables to the energy mix.
The report also notes that the energy transition is still constrained by several challenges; meanwhile, 85 per cent of the region's total energy supply still comes from fossil fuels.
The UN document highlights that, if unchecked, oil, coal, and natural gas consumption in the region is projected to increase further by 2050, particularly in developing countries, which rely on these fuels, often obtained through imports, to sustain their economic growth.
Another critical issue concerns energy efficiency. Final energy consumption in the region has grown steadily since 2000, with significant increases in the transportation and industrial sectors. At the same time, energy intensity (the amount of energy per unit of GDP) is decreasing, demonstrating an improvement in energy use.
However, as the report suggests, Asian countries should redouble their efforts to improve efficiency, as this is a quick and cost-effective way to cut emissions and dependence on fuel imports.
ESCAP encourages countries to invest in emerging technologies, such as green hydrogen and long-term energy storage, to overcome the intermittent supply of renewable sources such as solar and wind.
Furthermore, the importance of policy and regulatory reforms that foster the creation of competitive energy markets and attract private investment is highlighted.
So far, most investments (approximately US$ 528 billion in 2024) have been concentrated in a few large economies, leaving many developing countries with a financing gap. In fact, the region’s ten least developed countries received only 1.4 per cent of total energy transition investments between 2020 and 2023.
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04/10/2023 18:52
