A new report says Thailand can enjoy a ‘complete economic transformation’ by integrating more renewable energy.
Produced by the International Renewable Energy Agency (IRENA) and the Ministry of Energy of Thailand, the paper points to potential savings for the country of over US$9 billion annually by 2036. To achieve this, and 37% clean power in its energy mix by 2036 – a quarter higher than current targets, the report calls on Thailand to harness more wind and solar, among a string of recommendations.
“Thailand, like other Southeast Asian nations, stands at an important crossroads in its energy future, as its growing economy is set to fuel energy demand growth of close to 80% over the next two decades,” explained IRENA Director-General Adnan Z. Amin. “Accelerating the deployment of renewable energy in Thailand can underpin a period of sustainable economic growth that decarbonises the energy system while also lowering costs, creating jobs and improving energy access across the country. The switch to renewable energy represents more than just an energy transition in Thailand – it can support a complete economic transformation.”
The Renewable Energy Outlook: Thailand report provides decision-makers in Thailand with a blueprint for maximising the opportunities available to them.
And Thailand has plenty of talent around to capitalise on its natural assets. In September, Innovators Magazine reported on the Smart Energy Hackathon event held in Bangkok. The new platform was launched to help make Southeast Asia the ‘go-to-place for digital smart energy-tech’. The hackathon winners, SolarPi, harnessed blockchain technologies in an incentive-based system that rewards solar energy producers with solar coins. Innovative solutions that can help accelerate the energy transition for Thailand and the wider region.