The need to mitigate climate change and achieve the Paris Agreement targets is more urgent than ever. To limit the global temperature increase to two degrees Centigrade above pre-industrial levels, the world agreed to triple renewable energy supply to around 11,000 GW by 2030. What are the implications of this pledge on the renewable energy landscape?
At Renewable Energy Markets™ Asia 2024, REDEX Founder and CEO Kang Jen Wee Kang provided insights on the trends shaping the Asian renewable energy industry to business and key opinion leaders. He shared that the overwhelming majority of new renewable energy installations will be solar photovoltaics, with distributed solar comprising around 50 percent of annual new capacity over the next few years. He added that residential rooftop, boosted by regulatory and demand factors in Asia, will contribute significantly to new capacity.
Jen Wee also explored the role of Impact Renewable Energy Certificates (RECs) in providing sustainable development to underserved areas. By offtaking Impact RECs, corporates not only reduce Scope 2 emissions, but also contribute to educational and economic opportunities to the underprivileged, helping to build self-sustaining and resilient communities. This analysis was explored in detail by CFO Guai Ti Howe who hosted a series of small group discussions at the event.
We thank the Center of Resource Solutions for organising this event that provided a valuable platform for stakeholders in Asian sustainable energy markets to share strategies, innovative ideas, and opportunities for collaboration!
