Asia is at a turning point as the world moves towards a sustainable energy future. Home to around 60% of the world's population, the region is both a significant energy consumer and a leader in renewable energy. Today, we have a unique opportunity to move away from traditional fossil fuel paths.
A recent report from the Rockefeller Foundation identified a “green power gap” – the clean energy capacity that energy-poor countries must generate by 2050 to meet their development and climate goals. The report found that 72 countries have insufficient energy access, almost a quarter of which are in Asia. This lack of access not only hampers economic growth, but also exacerbates inequality.
INDIA – SEPTEMBER 1: Students at a school near a solar energy facility in Mushni, West Bengal. … (+) India (Photo by Suvasis Mullick/The India Today Group via Getty Images)
India Today Group via Getty Images
Energy poor countries have added just 500 kilowatt-hours (kWh) per year over the past 50 years, while emerging countries have added 4,000 kWh. To close this gap, energy poor countries need to deploy 8,700 terawatt-hours (TWh) of clean energy – an ambitious goal.
Fortunately, Asian countries have the capacity to develop diverse and flexible power systems that will not only meet their own energy needs but also contribute to achieving global climate goals. The region is blessed with some of the best solar resources in the world, with complementary wind, geothermal and hydropower resources.
Realizing this promise will require significant funding, technology transfer, and international cooperation. No one solution fits all. For example, countries with developed electricity grids, like India, are good candidates for advanced grid greening strategies, including phasing out fossil fuels and doubling renewable energy. Meanwhile, decentralized renewable solutions, such as solar mini-grids, can help rapidly expand energy access in less-developed grid countries, like Bangladesh and Myanmar.
To close the green power gap, it is important that countries consider:
1. Accelerate investment in renewable energy: Financial institutions, governments and private investors must prioritize financing for renewable energy projects in Asia, from large-scale solar and wind farms to community-based facilities that can rapidly improve energy scarce areas.
2. Promote regional cooperation: Asian countries should work together to exchange technical know-how, establish cooperative financing channels for the widespread adoption of renewable energy, and expand regional energy markets.
3. Promote policy and regulatory reform: Governments may consider implementing measures to encourage the use of renewable energy, such as tax incentives, feed-in tariffs, and fast-track permitting procedures. In addition, efforts to remove fossil fuel subsidies and redirect those funds to clean energy projects would also be beneficial.
4. Promote innovation and capacity building: Asia needs to make the most of its strengths in developing next-generation renewable technologies and foster the local knowledge needed to efficiently deploy and sustain these technologies.
Closing the green power gap is in the interest of all countries. If the world's energy-poor countries continue to grow using fossil fuels, global emissions are expected to exceed the targets outlined in the Paris Agreement, with dire consequences for us all.
We hope that quantifying this gap is the first step toward the collective action needed to address it. By developing energy transition plans, designing investment-grade regulatory environments, and building institutional capacity and local expertise, Asian countries can lead the global effort to mitigate the climate crisis and expand human opportunity.
