Southeast Asian Solar Power Set to Surge as Costs Drop Below Natural-Gas Generation
Southeast Asian nations are stepping up plans to invest in and deploy solar power as the cost has dropped below that for gas-fired power plants, according to analysts and government officials. The region, where power demand is expected to double by 2040, is striving to expand the share of renewable sources as developing nations seek affordable electricity while battling climate change.
ASEAN (Association of Southeast Asian Nations) members have forged themselves into leading industrial and export-driven manufacturing hubs in recent decades. They have been lagging behind when it comes to deploying solar and other emissions-free energy resources, however; that despite having committed to achieving UN renewable energy and climate change goals.
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