GoodWe sees a bright future in building sustainable SEA cities

Asia’s shift to solar power brings hope to a cleaner and greener economy.

For the past decades, Southeast Asia (SEA) has seen rapid economic growth, with countries such as Singapore marking their position as part of the largest economies in the world and some of the fastest-growing economies. However, this notable growth trajectory has created certain energy challenges, consequently, reared concerns over its long-term environmental impact. The Asian Development Bank reported in 2020 that Southeast Asian countries recorded the fastest growth for carbon dioxide emissions in the world between 1990 and 2010. Because of this energy-related air pollution, 450,000 premature deaths have been recorded in 2018. It may even reach 650,000 by 2040. 

Supplying the growing consumption through traditional sources, like coal and fossil fuels, alone may not meet the growing demands over the coming years, let alone its potential contribution to climate change and damage to the environment. The need to shift to renewable energy arose. As the main contribution of the renewable industry, solar energy is more and more recognized and valued.

GoodWe Power Supply Technology Co Ltd., a world-leading solar inverter and energy storage solutions manufacturer, understood the need for the overall change of transforming the global energy system as a whole and meeting the Sustainable Development Goals on energy (SDG) set by the United Nations.

“GoodWe is one of the big players, we are a leader in smart energy, and our slogan, ‘create

a new era of smart energy’, reflects that. Working for the [renewable energy] industry requires courage and dedication; it is a global dream, competing with traditional fossil fuels and achieving

a win-win situation for the world,” said Jell Jiang, head of GoodWe Southeast & Central Asia.

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This is why, early on, GoodWe Power Supply Technology Co Ltd. invested in the future of sustainable energy in SEA, especially in Vietnam and Thailand. It has partnered with more and more big distributors since its listing in 2020 and aims to contribute more to the region to bring forth its expertise in providing green solutions that will help expand the energy system and pave the way to realise the vision of a substantial socio-economic and environmentally conscious industrial economies.

GoodWe was heavily involved in various projects in South East Asia, tackling the need for renewable energy. It. By providing C&I + Utility inverters, storage solutions, and Smart Energy Management System across different countries in Asia, GoodWe has played a key role in  providing technical support and other solutions to governments to achieve their goal in adapting more renewable sources of energy 

Its significant role in this sector cannot be discounted as GoodWe has more than 2,000 employees situated in 15 different countries. The company is regarded as the Global No.1 storage inverter by Wood Mackenzie and was ranked as one of the Top 10 inverter suppliers by IHS Markit, putting GoodWe at the forefront of the renewable energy sector in the whole Asian demographic.

“PV development in Southeast Asia is related to the national economic system and sometimes relies on policy support, especially large-scale consumption requires the support from government incentives. Apart from this, overseas funds or loans for investment will also be a good way to increase [return on investment]. GoodWe can show the market that times have changed, the situation is different from 10 years ago; solar systems can meet grid parity or more economical solutions. We are also committed to customizing product design, provide dynamic solutions and give real benefits to our customers and end-users,” Jell said.

Another significant milestone of GoodWe is its partnership with Malaysia. In recent years, the country has pushed for green-friendly policies to encourage the development of renewable energy in the local economy. According to the Sustainable Energy Development Authority of Malaysia, the government shall push through with the Green Investment Tax Allowance and Green Income Tax Exemption incentives which shall be extended to 2023. These policies are in line with the country’s Renewable Energy Transition Roadmap 2035, a strategic roadmap developed by the Malaysian Government in partnership with industry stakeholders. It outlines the strategies and action plans to help the country achieve key renewable energy policies and targets. 

Through its government’s support, Malaysia's installed solar capacity will see a seven-fold increase by 2030 from 1.49 GW at the end of 2020. This has opened possibilities for international players in the energy sector to enter the local market and transform the way the country consumes and transfers energy. This has effectively geared the energy sector from an expensive and unstable source to a cheap and sustainable one. GoodWe helped Malaysia in achieving its initial goals by providing high-quality products, excellent local services, and cost-effective solutions.

The company is not only involved in business matters in Asia. In light of the pandemic, GoodWe supported farmers in the South of Vietnam by providing for their basic needs. Ho Chi Minh city was negatively hit by the second wave of COVID-19 with more than 180,000 cases since April. The company took it upon its shoulders to provide food for families within the area who were struggling to make ends meet.

“We feel bullish about South East Asian markets, such as Vietnam, Malaysia, Thailand, and Indonesia, also Pakistan in Central Asia,” said Jell, promising that GoodWe will speed up operations in these areas to better meet customers’ requirements and expectations. 

“The local bonded/after-sales warehouse is currently under preparations and will soon be operating. We are also considering production line localization to keep up with rapid market growth. GoodWe certainly treats SEA as a high priority market,” he concluded. 

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