Resource shortages impact Asia’s energy affordability

Affordability and political barriers hinder Asia’s renewable energy growth.

Asia’s energy sector faces significant challenges in balancing affordability and accessibility amidst resource shortages, according to Dr. Owen Chen, Chief Technology Officer & Vice President of Concord New Energy Group.

“Asia is a place where there are a lot of developed countries, and it’s short of resources…I mean, the petrol, gas, and even some coal,” Chen explained, highlighting the region's dependency on limited traditional energy sources.

Chen emphasised that renewable energy sources, particularly wind and solar, offer a path to affordability for underdeveloped areas across Asia. “Renewable energy can help to provide low-cost energies,” he stated, underscoring the need for a sustainable shift.

Political barriers also pose a challenge, impacting inter-country connectivity and limiting collaboration. “The politics…will be, you know, a bottleneck for their energy development,” Chen noted, describing the need for regional cooperation to unlock Asia’s energy potential.

By 2030, Chen envisions a diversified energy market for Asia, incorporating renewables alongside traditional sources and expanding cross-border energy exports to markets like Singapore and Japan.