Policies power renewables growth in Asia-Pacific

An Expert's View about Renewable Energy in Australia

Posted on: 19 Nov 2013

Government policies and incentives in the Asia-Pacific region have become an important tool to boost the renewable energy industry. .

19 November 2013 Policies power renewables growth in Asia-Pacific Government policies and incentives in the Asia- Pacific region have become an important tool to boost the renewable energy industry, says a report that provides insights to major policy initiatives implemented by the region's countries. The report from GlobalData presents an in-depth Solar power plant in Japan. Photo: Wikimedia Commons analysis of the renewable energy policies across the major countries in Asia-Pacific. The 'Asia-Pacific Renewable Energy Policy Handbook 2013' focuses on Australia, China, India, Japan, South Korea, Thailand, New Zealand, Vietnam and Taiwan. Renewable Portfolio Standards (RPS) and Feed-In Tariffs (FITs) are the two most prominent support mechanisms implemented by countries that are driving renewable energy market development. Other incentives, such as capital subsidies, grants, rebates, tax credits and exemptions, as well as reduced-rate loans, are also being offered by these countries to help further promote the use of renewable power. The report: * covers policy measures and incentives used by the major countries in Asia-Pacific to promote renewable energy; * details promotional measures in different countries both for the overall renewable energy industry and for specific renewable energy technologies namely solar, wind, geothermal, hydro and bioenergy; * highlights the differences and focus of the renewable energy policy frameworks in different countries in Asia-Pacific; * provides a platform for comparison of various renewable energy policies across countries. Examples of developments India and Australia will increase their share of renewable energy projects in the near future, while China will remain the largest market in the Asia-Pacific region. Australia’s cumulative installed capacity for renewable power surged from 849 megawatts (MW) in 2001 to 5,968 MW in 2012. The solar PV market has also grown in recent years. Mandatory renewable energy targets are behind this growth. India to witness significant investment in solar energy over the next decade. The country has invested heavily in solar energy and aims to increase the capacity of grid-connected solar power generation to 1,000 MW by 2013 and 3,000 MW by 2017, through mandatory use of renewables by utility providers. China will remain the leading industry for renewable energy in the Asia-Pacific region. In 2011, the Chinese government announced in its 12th five-year plan (2011-2015) ambitious targets for renewable energy, including 70 gigawatt (GW) of wind power capacity, 20 GW of solar power and 7.5 GW of biomass power by 2015, generating about 11.3 percent of the country's electricity through renewable sources by 2015 and 15 percent by 2020. South Korea's renewable portfolio standards will to stimulate renewable energy growth. Japan’s feed-in tariff will position it as the next large-growth market. Sources: GlobalData Related: Local policies drive renewables growth in Americas
Posted: 19 November 2013

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