It’s time we embraced the facts and acknowledged the incredible potential of renewable energy in Asia, especially in the vibrant and diverse landscapes of the region.
There’s a revolution stirring in Asia, and it’s powered by the sun, wind, water, and earth. As the renewable energy sector rapidly evolves and expands, it’s high time we debunked some stubborn myths that have overstayed their welcome. From cost concerns to availability issues, we’re turning the spotlight on these tall tales, revealing not only their inaccuracies but the exciting truths they’ve masked. So, are you ready to dismantle misconceptions and embrace the burgeoning reality of renewable energy in Asia?
RELEVANT SUSTAINABLE GOALS
Myth 1 : Renewables are too expensive to install
In reality, installing renewable energy sources is becoming increasingly cost-effective. Take a look at Europe and the US, where new solar capacity and wind power are cheaper alternatives to traditional fossil fuels. Now, this trend is catching on in Asia too, signaling a fundamental shift in the global energy landscape. The days of cheap fossil fuels are well and truly over!
Myth 2 : Wind and solar don’t run 24/7/365
While it’s true that renewable sources vary in output, this variability is predictable and manageable. By harnessing a range of renewable energy types, we can ensure a reliable and robust energy system. And guess what? Unlike fossil fuels, renewables won’t ever run dry. Asia, with its diverse climates and landscapes, is ideally positioned to benefit from this reality.
Myth 3 : We can’t store it/access when we need it
The global energy storage market is projected to surge by an incredible 15x by 2030, compared to 2021. Not impressed yet? How about this – the price of lithium-ion batteries has plunged by an astonishing 97% since 1991 and is still dropping. With the rise of sophisticated battery facilities for electricity storage, you can bet your bottom dollar that power will be delivered right when and where it’s needed, even when renewables are low.
Myth 4 : Many countries lack access to renewable sources
The World Bank has come out swinging, claiming that the potential for electricity generation from solar photovoltaic sources in most countries completely overshadows their current electricity demands. So, here’s the real deal: Every country has access to some form of renewable energy source, unlike with fossil fuels. The real challenge? Harnessing this power cost-effectively and integrating it seamlessly into the national energy mix.
This shift towards greener infrastructure starts with governments and private institutions switching their investments from carbon-intensive markets to greener options like solar, wind, and hydropower. The ASEAN bloc aims to grow solar, wind, geothermal, and biomass generation by 15%, 12%, 25%, and 10% annually by 2040, respectively. We’re already seeing this transition in places like Vietnam, with the construction of two mega offshore wind farms, Indonesia’s $22.5 billion Kayan Hydro Power Plant, and the Philippines’ $5 billion Solar Power Plant program.
Myth 5 : Renewable energy projects in Asia are slow to develop
Let’s set the record straight: Asia is leading the way in renewable energy growth. China, India, and other Asian nations are ramping up their renewable energy capacities at an astounding rate. They’re not only investing heavily in renewables, but also innovating and setting ambitious targets for renewable energy integration
Don’t let the myths fool you. The future of energy is not only renewable; it’s already here. As the world pivots towards a more sustainable future, it’s time we embraced the facts and acknowledged the incredible potential of renewable energy, especially in the vibrant and diverse landscapes of Asia.