03 Mar APAC to generate most of the world’s energy by 2030
Most of the world’s energy will be generated in APAC by 2030.
Asian Power, a publication for the power generation, transmission and distribution industry in the Asia Pacific (APAC) region, has reported that it is expected that about 56% of the world’s energy will be generated by the region, based on information from GlobalData, a leading provider of data, analytics, and insights.
Between 2022 and 2030, power generation in the region is projected to rise by 3.9% annually, higher than the forecasts for both Europe and North America. Experts added that the APAC region has potential for renewable development.
On that front, APAC is expected to account for 43% of total renewable energy generation by 2030. The bulk of this could be mostly led by investments in China, Australia and potentially Mongolia.
Experts shared that China has significantly invested in both solar and wind, with its companies exporting the technology and infrastructure globally. For Australia, its access to raw materials and solar power potential are useful for hydrogen production. Lastly, Mongolia has potential for about 2.6 terawatts of renewable energy production, which could be exported following major advances in battery storage capabilities.
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